An Etobicoke construction loan can be provided by both an institutional or private mortgage provider for either residential or commercial construction projects.
Our clients come to us for a wide range of construction loans that vary by project type, amount, and construction phase. Each project, depending on the size and type, can have several different phases that each may require a separate form of construction financing.
This is one of our strengths as we can provide Etobicoke construction mortgage loans for all phases of construction including but not limited to land acquisition loans, site development financing, builder construction loans, Mezzanine financing, take out mortgages, condo inventory financing and bridge construction loan financing.
Its not unusual for most projects to have two or more forms of construction financing in place to fund the cash flow of the entire project. As the project proceeds, the overall value of the project increases, providing the ability to leverage additional funds against the real estate property.
The key to a successful project from a cash flow point of view is the seamless (or near seamless) flow of money from the funding or investing sources into the project’s cash flow. This is also a reason why its important to work with a construction mortgage broker who has access to all the different forms of construction financing you may require during the life of the project so if there are any snags or lender issues, the construction financing problem can be solved with an alternative solution.
Most Etobicoke construction loans are financed with private mortgages from private lenders. We have very good sources of private mortgage funding that will look at a variety of different types of projects in the area. If institutional funding is required, we also have very strong relationships with the major and secondary banks that have construction mortgage programs for both residential and commercial projects.
To get the best combination of private and bank funding working for you, your best bet is to be working with an experienced construction mortgage broker who can pull all the funding elements together, regardless what stage of the project you’re at.
Even if you have a project that’s stalled out due to a lender’s refusal to advance a requested draw or the cash flow running over budget, we may be able to provide a construction bridge loan in short order to get the project back on track.