As mortgage brokers we provide construction and renovation loans. Mortgages and loans are available on many types of properties. Construction mortgages are available to clients who require financing. The money can be used for the purchase of land, materials or to pay suppliers.
Owner’s should have all permits and approvals from the local municipality. A full set of plans should be submitted with each loan application. The plan should include an itemized budget showing were the money will be spent. A list of all the sub-contractors working on this project will also be required.
Construction mortgages pay money to suppliers as the work is completed. Each project is inspected to ensure the work is properly completed and on schedule. Most construction loans and mortgages have a time frame in which the project must be completed.
The interest rate for a construction mortgage or loan will be higher than a conventional house mortgage. The fees associated with the mortgage or loan with also be higher. There are a limited amount of lenders that will provide loans and mortgages for construction purposes. Our mortgage brokers are here to help you. We will give you the best advice possible. Even it means that you do not use our services.
Our mortgage brokers also provide construction loans for houses, apartments and commercial buildings. We will work with you and the lender to arrange acceptable terms and conditions so that all parties can benefit. Most construction loans are paid out upon completion of work during various stages of the project.
Our mortgage brokers can provide the experience that will get you the funding required. We have access to institutional funds as well as private funds. Our brokers can arrange your house construction or renovation loan. Call us for a free consultation on your project.