Borrowers use our construction program to cover land development and building construction costs. Funds can be disbursed on each stage completed, according to a prearranged schedule or when certain milestones are met.
An exit strategy for the construction loan is one of the key considerations for funding. Construction loans are repaid from the proceeds of standard financing or the sale of the asset.
Other critical considerations include the borrower’s experience, net worth and liquidity, as well as the location and quality of the site.
Speak to one of our empowered advisors to assess options and determine the best course of action for finding and securing a smart-risk mortgage.