MortgagePath Capital Group.
Office: (416) 840-9326
We know how difficult it may be to get a commercial, construction, or residential mortgage. Operating under Mortgage Alliance, we have expert knowledge and a value-focused perspective in understanding our clients’ financial goals and delivering the most appropriate funding to satisfy those requirements. We also have access to all banks and conventional lenders, alternative and private lenders for all types of mortgages, making us a 1-stop shop for servicing all mortgage-related needs.
What is a Construction Mortgage?
A Construction Mortgage is a loan that is typically used to finance the construction or build of a home or commercial property. In most circumstances, the interest is paid during construction and once the building time-frame is complete, the loan must be paid (and then becomes your typical mortgage).
Building your own home is becoming more and more attractive and simultaneously, it can come with complex financial burdens. We provide support and guidance through the process of arranging your construction mortgage, construction costs, etc.
For Commercial Construction Mortgages, we provide support and guidance in getting to completely understand what the project financing goals are. We will provide construction financing to assist in getting the entire project funded to completion. We can also assist with take-out funding to secure a new 1st mortgage on the property to take out the construction lender.
For multi-family property construction projects, we can provide guidance & assistance in obtaining CMHC financing with a suitable lender. This type of financing will provide almost 100% coverage on the construction project costs which could result in a much lower rate of interest for the borrower(s).