Regardless of what type of construction project you may be planning or are in the middle of, we have a broad selection of Barrie construction financing sources to service your needs.
Our customers include builders, developers, and property owners. Projects funded vary from single family residential projects to large multi unit commercial complexes.
Because our focus is in the Barrie area and southwestern Ontario area overall, we have a tremendous focus on maintaining a strong relationships with both institutional and private mortgage lenders. This is very important to local builders and developers as many construction projects can require several different types of construction mortgage loans during the life time of a given project. Its not uncommon for large projects to require a land acquisition loan, followed by a site development loan, then a building mortgage, and a take out mortgage if the project is going to be retained by the owner.
For larger condo projects requiring additional capital to fund the project before condo registration is received, condo inventory financing loans can be located and secured as well. While not an overly common form of Barrie construction financing, it non the less can be critical to certain projects that are nearing completion but need a bit of help to get all the way done.
For other forms of construction where incremental capital is required to complete the work, construction bridge loans can also be arranged from our construction financing sources. A construction bridge loan can be required when the primary financing fails to advance the funds required, or when the project overall runs over budget and doesn’t have enough capital to complete the work.
Take out mortgages are arranged through bank and institutional mortgage lenders that are interested in securing long term borrowers for their portfolios. Construction loans that are provided by institutional lenders will also likely require that they provide the take out mortgage as well, so we will help you get qualified for both prior to the commencement of building.
If you have a Barrie construction financing requirement, give me a call so I can quickly assess your requirements and provide relevant construction loan options for your consideration.