Construction Financing
Finance your custom home build or major renovation project with specialized construction mortgage products.
Building a custom home or undertaking a major renovation requires a different type of financing than purchasing an existing property. Construction mortgages are structured with progress draws that release funds at key stages of the build. I work with lenders who specialize in construction financing to help you manage the build process financially, from breaking ground to final completion and occupancy.
Who Is This For?
- Those building a custom home on their own land
- Homeowners planning major renovations or additions
- Builders and developers constructing new residential properties
- Those demolishing and rebuilding on an existing lot
- Property owners converting a building from one use to another
Common Goals
- Secure financing to build a custom home from the ground up
- Fund a major renovation or home addition project
- Structure a draw schedule aligned with construction milestones
- Convert the construction mortgage to a permanent mortgage upon completion
- Manage cash flow throughout the construction process
How It Works
We review your building plans, budget, contractor details, and the timeline for your project.
I identify lenders with construction mortgage programs that fit your project scope and budget.
I structure the financing with a draw schedule that aligns with your construction milestones.
As construction progresses, I coordinate inspections and draws to keep your project funded on schedule.
Important Considerations
- *Construction mortgages typically require 25-35% down or equity in the land.
- *Interest-only payments are common during the construction phase.
- *An appraisal based on the completed project value will be required.
- *Construction delays can impact your financing; contingency planning is important.
Construction financing is subject to lender approval, project assessment, and property appraisal. Draw schedules, rates, and terms vary by lender. O.A.C.
Ready to Get Started?
Free consultation, no credit check. I search 65+ lenders and 7,000+ solutions to find your best fit.
Subject to lender approval. O.A.C.
Typical Documents Needed
- Building plans and specifications
- Detailed construction budget and cost breakdown
- Building permit (or permit application)
- Contractor agreement and builder credentials
- Proof of land ownership or purchase agreement
- Standard income and identity documents
Related Solutions
Advertising Disclosure: Michael Noble Green, Mortgage Agent Level 1 (Licence #M21002443) at 8Twelve Mortgage Corp. (Brokerage Licence #13390). All mortgage products and services are subject to lender approval. O.A.C. Rates and terms are subject to change without notice. This page is for informational purposes and does not constitute a commitment to lend.