With construction loans, as your new home progresses, so do your payments. They’re called ‘progress payments’ (funny that) and they’re charged as key construction milestones are reached. Like:

• When the slab goes down
• When the frame goes up
• When the walls, windows and doors are in place
• When the internal and external fittings (cupboards and appliances) are in
• When the keys are ready for handover

Then, only when your home is officially move-in ready (yay!), your loan will start to work like any other home loan. Thank you, Construction Finance.