London construction mortgage loan financing is available from a number of our mortgage financing partners that service the London and southwestern Ontario area.
We provide our clients with construction loans and construction mortgages for both residential and commercial construction projects. Our clientele ranges from the individual home owner doing a self build project to a builder or developer requiring construction financing for a larger scale residential or commercial property.
There can also be considerable variability in construction financing applications even among similar projects as different phases of construction can require a unique financing application.
For instance, a project may first require a mortgage to acquire property, then secure a construction loan for site development, followed by a builder loan or some form of mezzanine financing to fund the main portion of the overall project. If the owner or builder is going to retain the real estate post construction, then a take out mortgage will need to be arranged to consolidate the construction mortgages outstanding. If a construction project goes over budget and requires additional capital to complete the work, then we will arrange a construction bridge loan to cover off the additional costs.
Depending on the project, borrower, and phase of construction requiring capital, the best available solution may be either a bank or private mortgage financing solution. This is one of the reasons we maintain strong relationships with both institutional and private mortgage lenders as one or the other can be most applicable to a given project.
One of the keys to successful construction financing for any type of project is a near seamless transition from one form of financing to another as most construction projects require two or more construction mortgage facilities during the life time of the project. This is an area where our experience and focus with London construction mortgage financing pays big dividends to our clients as we are used to helping our customers work through the various challenges that can impact the cash flow of any construction project.
If you require a London construction mortgage loan, I suggest that you give me a call so I can quickly assess your requirements and provide you with construction loan options for your consideration.