Whitby Construction loans are available for all phases of residential and commercial construction including but not limited to land purchase, site development, building construction, take out mortgage, construction bridge loans, and mezzanine construction financing.
Our construction financing focus is in the Whitby and Southern Ontario market area for both bank or institutional construction mortgage loans as well as private mortgage construction financing solutions.
Because most construction projects require more than one type of phased construction financing, you need to make sure that each component of outside capital that is brought into the project will fit into the overall cash flow and not cause any progress disruptions or lead to any additional costs.
There is also the risk that the project could run over budget for some reason, or run into problems with an institutional draw advance. In either case, a construction bridge loan could also be required to fill the cash flow gap and get the project completed on time. Having access to construction contingency financing sources is an excellent way to help make sure that your project is prepared to deal with anything that may come its way.
For larger commercial or residential development projects, we work with both bank and private mortgage construction lenders, depending on the specific needs of your project. Bank construction loans will require more lead time to arrange, and the project will have to be well documented and supported in order to both secure institutional financing in the time period required and make sure the draw advances flow as smooth as possible.
If you have a construction project you’re planning or are in the middle of and require a Whitby Construction loan for the next phase of the project, I suggest that you give me a call so I can quickly assess your requirements and outline the most relevant Whitby construction financing options that are available to you. If you’ve got a critical short term need, I’ll let you know in as little as a few hours if I can help you or not so you’re not wasting valuable time.