We provide Windsor construction financing to property owners, developers, and contract builder for a variety of commercial and residential construction projects.
Our focus is on Windsor construction financing and the southwestern Ontario area as a whole. By concentrating on one geography we can better stay on top of all the different bank and private mortgage construction financing sources that can be relevant for different types of projects. And because most construction projects require two or more forms of construction mortgage financing during the life of the project, its very important to make sure we can source whatever construction or construction related financing may be required by our clients, planned and unplanned.
Even for the average single family construction self build or contract build there will be from two to four separate construction related mortgages to arrange and manage through.
For the simplest deals, the client starts with bare land, get a construction loan for the building stage, and secures a take out mortgage to term out the construction financing over a long period of time. In some cases, there will already be a mortgage on the land which likely related to the acquisition of the property. If required, we can provide land acquisition financing for this step in the process. If a first mortgage exists prior to sourcing construction financing, then we need to make sure we’re working with a lending source who will be able to work in a second mortgage position on the property. During construction, there can be cost overruns and additions to scope that can cause the cash flow to fall short requiring a construction bridge loan to fill the gap required to complete the project.
Regardless of what the project is, there are going to be multiple sources of funding required that will need to be sourced, secured, and administered in a fashion that will not impact the completion of the project or create additional costs. This is why its important to work with a construction mortgage broker who provides Windsor Construction loans and is capable of arranging any type of financing the project may require without any unnecessary disruptions or delays.
If you require a Windsor construction loan for a project you’re in the middle of or just planning out, I suggest that you give me a call at 416 464 4113 so I can quickly assess your requirements and provide relevant construction mortgage financing options for your immediate consideration.