We provide Kingston construction mortgage financing to builders, property owners, and land developers from a variety of different construction lending sources including both bank and private mortgage lenders.
Because one of our specialties is construction financing in the southwestern Ontario area, we stay on top of the market and make sure our customers have access to any type of construction related financing they may require.
Most construction projects have at least two or three separate construction financing mortgages and each of these may even need to come from a different lender. So to make sure everything flows smoothly, its important to work with a construction mortgage broker that can not only access the construction funding you require for a particular application, but also help you seamlessly transition from one financing source to another.
If you take a self build home project as an example, the owner may or may not need a mortgage to acquire property where construction will take place. Next, they will require the construction build loan and once its complete they will need a construction take out mortgage to consolidate all previous costs into a long term mortgage.
For larger residential and commercial projects, there can be even more funding requirements by phase of project, which can also range from standard debt financing to mezzanine financing as well.
The larger the construction project, the more complex the administration of the construction financing can become, especially when you’re working with an institutional source for your Kingston construction mortgage. This is an area where experience can mean everything in getting problems with cash flow solved quickly and having the overall project stay on track.
If things do go awry for some unforeseen reason, we also can provide out clients with construction bridge loans to cover cost overruns or draw cut backs or other funding shortfalls. Depending on the project, a construction bridge loan can many times be put into place in just a matter of days.
If you’re in need of a Kingston construction mortgage for a project you’re planning or in the middle of, give us a call so we can quickly assess you requirements and provide relevant construction mortgage financing options for your consideration.