We provide Cambridge construction loans to professional builders and developers as well as owners undertaking self build projects in the Cambridge and surrounding area.
And whether you’re project requires residential construction financing or commercial construction mortgages, we have several different lending sources that we can match your specific project up with.
As Cambridge construction mortgage brokers, we maintain direct relationships with both bank and private construction lending sources. This is important in that many times individual projects will require more than one form of construction financing over the life time of the project and the construction mortgage financing required at any point in time may vary from institutional to private mortgage sources.
As an example, when construction projects run over budget we provide bridge loans to fill the funding gap which are typically provided by a private lender even though the primary construction loan may have come from an institutional construction mortgage source.
Each type of construction project may also attract a different group of lenders as construction financing is a fairly specialized financing application and lenders tend to focus on a certain segment of the construction financing market.
While building loans for the actual building costs are the most common form of Cambridge construction loans, we also provide construction financing for site purchase, land development, take out mortgage, inventory financing, and mezzanine funding as well.
Some of the key success factors with construction financing include 1) working with highly relevant lenders for your project; 2) making sure that all the funding requirements and sources of funds for all phases of construction are properly lined up to avoid costly disruptions and delays; properly administering the draw management process so that the amount of draw funds requested at any point in time will be advanced when required.
In order to achieve the results you’re looking for both in securing a construction loan and managing the administration process to project completion, it makes a great deal of sense to work with a construction mortgage broker that not only places construction loans in your area, but also has the experience to help you manage through any cash flow or funding issues that may arise during the project.
If you require a Cambridge construction loan, I suggest that you give me a call so I can assess your requirements and provide relevant construction mortgage financing options for your consideration.