Lindsay construction loans can be for considerably more than just the actual building construction part of the construction project. The first most common form of construction financing is actually bare land mortgage financing to acquire the piece of property where the construction will actually take place.
Once the land is acquired by either debt financing or equity investment, the next step is going to be installing the infrastructure for the building stage which will typically require a land development construction mortgage. As the property is developed, its value increases, providing the means to secure further financial leverage against it. Even if the construction site itself can’t support all the required capital, its not unusual for the builder, developer or site owner to leverage another piece of property in order to secure the funds required for the next stage of development.
In the end, even the most basic Lindsay construction loan financing requirements could involve two or more separate construction mortgages to cover off the different stages of the work being done.
With large scale residential and commercial construction projects, its more likely that each stage of the project will have its own unique form of capital contribution that will be some combination of debt and equity construction financing, some paid in and some from the leverage of other assets or holdings.
As Lindsay construction mortgage brokers, we get requests from clients for projects of all sizes and at all stages of completion. While most construction mortgages are arranged at the outset of the project getting started, this is not always the case and many times we work with clients to arrange construction loans well after the project is underway.
This can be for a specific phase of construction, a take out mortgage at the end of a self build project, or a construction bridge loan to cover off some shortfall or scope expansion that happened after the initial construction financing was arranged.
Regardless of the situation, we work with our clients to provide the most relevant for of bank or private mortgage financing that fits the requirements of the project.
If you require a Lindsay construction loan for a current project being planned or in process, please give me a call so I can quickly assess your needs and provide relevant construction financing options for your consideration.