Scarborough and GTA Construction Mortgages Made Easy!
A construction mortgage is generally an all encompassing construction loan. If you want to build a custom home or vacation property, I can help you out. From the land acquisition through to construction. We can even convert the amount you borrow into a variety of mortgages.
Qualified borrowers can access Conventional and CMHC/Genworth insured mortgage financing up to 95% of final completion (market value). When you qualify, you can secure financing for acquisition, construction, and a term mortgage (known as exit financing) all at once. From the building process through the term, a construction mortgage rates carries top interest rates and interest-only payments. A construction mortgage is specifically intended to finance the construction of a custom home or vacation property.
- A builder who owns a lot and is looking to build it on spec
- A land owner who wants to build a property to sell OR keep for personal use
- A builder who builds for end users and requires construction financing
- An investor who utilizes a builder to build on land you own OR have purchased to sell or keep for personal use
- A property owner who would like to utilize existing real estate equity to acquire and build another property
- A builder, end user or investor who is looking for a bridge loan to advance construction to the next stage OR complete construction
- A builder, end user or investor who wants to purchase a property and requires financing to build it
If your bank is not providing the help you deserve with new home construction then let me help find you a construction mortgage that will suit your exact needs.