Residential Construction Loan – No Cap On Dollar

RESIDENTIAL CONSTRUCTION LOAN AMOUNT UP TO 75%
- FIRST from 8% with 2% lenders fee
- SECOND from 10% with 2.50% lenders fee
- 1-year term, option to extend for another 6 months.
- Interest is charged based on loan advance amount
- NO CAP ON DOLLAR AMOUNT
- SAME DAY OR 24 HOURS RESPONSE TIME
- NO SET DRAW SCHEDULE
- EACH DRAW IS FUNDED BASED ON WORK COMPLETE
Documents required for initial review:
- Budget
- Drawings
- Permits
- Approximate as is and as complete value upon completion
- Timeline for completion
- Current mortgage balance and lender
- Annual property tax amount
- Borrower or Builders experience
- Recent Equifax Bureau
- Application
Contact: Ameera@cmfg.ca