Are you someone looking to create the home of your dreams in Atlantic Canada? Look no further! Our Construction Loan product is designed specifically for you, offering flexible financing solutions that make the building process seamless and stress-free.
Why Choose Our Construction Loan?
We understand that constructing a new home or investment property can be complex. That’s why our Construction Loan product is tailored to support self-employed individuals and those ready to take the exciting step of building their dream home. With our financing options, you can navigate the construction journey with ease.
Quick Example: Building in Truro, NS
Let’s walk through a practical scenario to illustrate how our Construction Loan can work for you. Imagine a self-employed contractor in Truro, NS, ready to build an owner-occupied single-family home. They already own the land and expect the completed value of the home to be $500,000. With plans to finish the build in just 8 months after the first draw, our loan offers significant benefits.
Total Loan Facility:You can access up to 65% of the finished value, which in this case amounts to $325,000 (65% of $500,000, less fees).
Draw Schedule:
Draw 1 (40% complete, weather tight): $130,000 (less fees)
Draw 2 (70% complete, drywall stage): $97,500
Draw 3 (95%+ complete): $97,500
Cost Breakdown:
Approximate Interest for 8 months: $15,000
Lender & Broker Fees: $16,000
Total Cost: $31,000
Key Benefits of Our Construction Loans
Fast Approvals: We pride ourselves on quick processing, with approvals and draw schedules typically completed within 24 hours.
Low Documentation Requirements: Say goodbye to the mountains of paperwork! Our streamlined application process keeps things simple.
Minimal Inspection Costs: We understand the importance of keeping expenses low, especially when building your dream home.
Flexibility and Ease: Our loans are designed to adapt to your needs, ensuring you have the financial support required at each stage of your build.
Make Your Construction Plans a Reality!
You will appreciate our construction loans for their simplicity and speed. We’re here to support them every step of the way.
Are you ready to start your journey? Connect with us today at Rahul@activemortgage.ca and discover how our Construction Loan product can help you turn dreams into reality!
Building your dream home should be an exciting experience, not a complicated one. With our tailored financing solutions, you can focus on what truly matters: creating a space that feels like home. Let’s build together!
Comments