Finance your prefab home
from factory to foundation
Building a prefab or modular home shouldn't mean fighting your lender's process. FYNX structures your finance around how your home is actually manufactured and delivered — not the slab-frame-lockup stages your bank was built for.
First, understand the standard model
A construction loan in Australia works differently from a standard home loan. Instead of receiving the full loan amount upfront, funds are released in stages — called progress payments or draw-downs — as construction reaches specific milestones on your land.
The typical stages are: slab (foundation poured), frame (structural frame erected), lock-up (walls, roof, windows installed), fit-out (internal finishing), and completion. At each stage, your lender sends a valuer to confirm the work before releasing the next payment to your builder.
This system works reasonably well for traditional on-site construction. But it was designed around the assumption that your home is built progressively on your land — and that the lender's security (the land plus what's been built on it) improves visibly at each stage.
That assumption breaks down completely when your home is being manufactured in a factory, potentially hundreds of kilometres away.
Why standard construction loans don't work for prefab
One major bank has begun adapting — CommBank now offers progress payments during off-site manufacture for customers using accredited manufacturers. But most lenders still require your home to be built on-site before they release funds. The rest of the market is largely unchanged.
Upfront factory payments
Prefab manufacturers often require significant deposits before production begins — sometimes 20-50% of the build cost. Most lenders won't fund these payments because nothing has happened on your land yet.
No on-site security
Until your modules are delivered and affixed, the land may be the sole security. Traditional lenders aren't set up for the period when value exists in a factory, not on the block.
Misaligned milestones
Bank draw schedules assume slab-frame-lockup. Your home is being assembled in a factory — those stages don't exist. The bank's process and your builder's process are speaking different languages.
Contract complexity
Standard HIA and Master Builders contracts don't always fit modular delivery. Banks may reject unfamiliar contract structures. A standard-form prefab contract is being developed (via CommBank and prefabAUS) but is not yet published.
Valuation uncertainty
Valuers may not have comparable sales for modular homes in your area. Without clear comparable evidence, conservative valuations can limit how much you can borrow.
Time pressure
Factory slots are scheduled weeks or months in advance. Finance delays can push your build into a later production window, costing you time and potentially money. Fast, modular-aware approvals matter.
Finance products designed for how prefab homes are actually delivered
FYNX Home
Core product
Construction finance for owner-occupiers and investors building prefab or modular homes. Structured around off-site milestones with digital tracking and manufacturer assessment.
- Land + build or build-only
- Off-site milestone funding
- Digital pre-qualification
- Progress tracking dashboard
FYNX Accelerate
Accredited partners
A faster approval path when you're working with a manufacturer in our accredited network. Pre-approved milestone templates, standard contract packs, and higher off-site draw percentages.
- Faster approvals
- Higher off-site funding
- Standard contract pack
- Pre-approved milestones
FYNX Rescue
Refinance & restructure
Already been knocked back by a bank? Project stalled because your lender won't fund factory milestones? FYNX Rescue is designed for borrowers who need specialist placement or restructuring to get their prefab project moving.
- Specialist placement
- Refinance from unsuitable lender
- Restructured milestone schedule
- Manual case management
How your finance works with FYNX
FYNX understands how prefab and modular homes are manufactured, transported, and installed. Your finance reflects that reality.See the full process →
Pre-qualification
Tell us about your project — the land, the manufacturer, the build timeline. We assess your situation and give you a clear picture of what's possible. This can start online or with a phone call.
Off-site funding
Progress payments during factory manufacture — not just when work happens on your land. With accredited manufacturers, the process is faster and funding percentages can be higher.
Milestone tracking
Digital milestone verification keeps your project moving. Factory completion, dispatch, delivery, installation — each stage triggers the next draw. No waiting for slow site inspections.
Completion and conversion
Once your home is installed, connected, and certified, your construction finance converts to a standard arrangement.
Prefab home finance for real projects
Owner-occupiers
- Building a prefab or modular primary residence
- Land already owned or being purchased
- Working with a manufacturer or kit-home supplier
Investors
- Modular investment properties
- Granny flats and secondary dwellings
- Regional or rural modular builds
Kit home buyers
- Flat-pack or panelised home systems
- Hybrid builds with off-site components
- Owner-builder scenarios with prefab elements
Looking for developer finance for a multi-dwelling modular project? See developer finance →
See if your prefab project qualifies
Tell us about your build and we'll let you know how FYNX can help. No obligation, no pressure — just a straight conversation with someone who understands modular construction finance.
Have questions first? Read the FAQ →