Construction Mortgages For All Purposes

If you are having a home built or are building one for someone else, you can get financing for:

Custom home, cottage, or vacation house construction
Land and infill lot development
Construction and building projects of all sizes
Demolitions, reconstructions, and rebuilds
Stand alone property development
The specialized mortgage consultants at private firms know where to look to get you the rates you want, the flexible terms you need, and a mortgage or loan that is tailored to your needs and budget.Financing Options for Commercial BuildersFinancing the construction or renovation of a commercial or residential property that will be resold when completed is more difficult than finding loans for other types of property acquisitions. And commercial builders need quite a bit more capital at their disposal to ensure the entire construction process is completed on time and professionally.If you are working on residential or commercial construction and remodeling, you can obtain first and second mortgages for your building projects through independent firms, and can find loans to cover 95% of the construction costs. You could even qualify for financing for projects that cost as much as $25 million.Be sure to look for brokerage firms that can offer you:

Complimentary consultations
Free application reviews
Feedback within 24 hours of applying
Accredited mortgage professionals with training and experience in construction and project financing
Self-Build Mortgages for Your Home Construction NeedsHaving your home built for you is a great way to ensure that you and your family will have all your housing and property needs met. But obtaining a mortgage for this is a little more complicated, so be sure to seek out private brokers that have experience with self-build mortgages.Generally, you will have two types of financing options: completion and progress draw mortgages. Whereas a completion mortgage grants you money upon project completion, a progress draw loan allots you money throughout the various stages of the building process.Look for lenders that can offer benefits and choices like:
Interest-only payments required throughout construction
Flexible amortization periods
Loans and mortgages worth 95% of the home or land value
Self-build financing
The accredited professionals at private firms often have experience with financing for construction projects, so you can get the loans you need and advice about:
What to look for in a contractor or builder
Things to look for when purchasing a new home
Warrantees and guarantees
Reviewing and altering construction plans
Cost estimates
Make sure you find a mortgage broker that can offer you more than just great rates: also look for flexible terms and specialized mortgage professionals who will be able to help you through the construction process.