Regional Construction Loan

IBA received $150 million in funding from the Federal Government for new customers to construct homes in regional areas.

To support our customers through the construction phase we have developed a ‘regional construction loan package’ for new customers building a home in regional areas which includes:

  • Up to $5,000 establishment fee grant available to customers pre-approved or approved for Regional Construction Loans from 27 January 2021 to 30 June 2022 inclusive (or earlier if budget is exhausted*). The grant is to be used to offset conveyancing costs and valuation fees.
  • A fast-track application process
  • 0 % interest / $0 repayments for up to 9 months (to limit the financial burden while building)
  • low deposit requirements
  • no application fees or lenders mortgage insurance.

With IBA Regional Construction Loan package and other building grants available, now might be the right time for you to consider building your dream home. You can submit an Expression of Interest or call our new enquiry line on 1800 107 107 Opt 1.

All new loans are subject to IBA standard loan requirements, fees and charges.

* Availability is limited to IBA’s budget allocation for the regional construction loan package. The package will be administered on a first come, first served basis and IBA will provide notice to customers via its website if its budget allocation is exhausted prior to 30 June 2022. Availability for customers pre-approved during the period is further subject to final loan approval according to IBA’s normal lending criteria.

Thinking about constructing?

Watch our 5-part series, Brick by Brick,  with Yawaru woman Justine Kinney and property expert Garrick Smith for those thinking about taking the big step to construct.

You can also check out our frequently asked questions on the construction process, with tips and information to help you when building your home:

  1. FAQ 1: Before deciding if you want to build a home
  2. FAQ 2: Before signing a building contract
  3. FAQ 3: Post contract


Are you eligible?

Assistance is available to Aboriginal or Torres Strait Islander people who live in regional locations. IBA uses the Accessibility and Remoteness Index of Australia (ARIA+). For more information on the ARIA+, please check out the Australian Bureau of Statistics website on remoteness structure.