Drawdown
The act of accessing loan funds — lump sum or staged over a build.
What is Drawdown?
Drawdown is the act of accessing funds from an approved loan. Standard home loans are drawn down in one lump sum at settlement. Construction loans draw down in stages tied to build progress. Lines of credit draw down as needed.
Why it matters for you
Partial drawdowns mean you only pay interest on what you've actually taken — useful during construction or renovation phases. Your broker and conveyancer coordinate drawdown timing with the lender.