Vancouver Mortgage Broker
Traditional construction mortgages are done in draws on a “cost to complete” basis. The typical structure is a land draw, a draw at lockup (approx. 40% completion), a draw at drywall (approx. 60% completion) and when the house is done (100% complete).
However, this structure often doesn’t work for builders and developers who need cashflow throughout the build. I have years of experience doing construction lending, and can custom tailor your draws so that you get them more often to ease the cash flow concerns during a build. If you need 5 draws, 6 draws, or more, we can still arrange financing with this in mind.
Additionally, if you are looking for land only financing to acquire land for a future build, I can also arrange that.
Whether you are just acquiring land, or need a full construction package to take you to completion, I work with all the major banks, credit unions, and various trusts and private lenders and we can arrange a package that suits your needs.
Services clients across Vancouver, Yaletown, Burnaby, Richmond, Coquitlam, Surrey, South Surrey, White Rock, Langley City, Fort Langley, Langley Township, Aldergrove, Abbotsford, Chilliwack, Hope, and the surrounding areas.