Construction Financing | Surrey Mortgage Broker

Construction Mortgages

With A Construction Loan Specialists

Your Construction Project

LOOKING TO FINANCE

Are you on the watch out for a reliable mortgage company to finance your construction projects? Are you new to the market, with no prior knowledge of construction mortgages? Well, worry no more because we are here for you! May it is for residential construction or commercial construction, our financing expert Swarn Sidhu is here to guide you throughout the construction financing procedure.

As a professional construction loan specialist, Swarn Sidhu is an expert in mortgages. This is mainly owing to his years of experience in the financing industry, as he has worked in different projects that have led to great exposure. Therefore, if you want to know the ins and outs of your construction loans, Swarn Sidhu can definitely help you out.

What Do Construction Mortgages Really Mean?

Construction mortgages are similar to short-term loans, but they differ in purpose. Because these mortgages are offered only to those who are involved in construction projects or are looking to repair an existing property that qualifies for the mortgage. The repayment policies for such construction loans will depend on your lender, but they often are quite reasonable.

Knowing Your Construction Mortgages

When it comes to construction loans, there are different types of financing available for you. Therefore, before deciding on your loans, it is important to know what these mortgages are and how they work. This is where construction loan specialists come in handy since they can brief you on the options available to you and guide you through the acquiring process.

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Construction Mortgages Available To You

Most Canadian mortgage companies will offer you two types of construction - the progress draw mortgage and complete mortgage. As the term itself suggests, the progress draw mortgage depends on the progress of your constructions. That is, a professional appraiser should assess the progress of your construction - and the loan is paid to you in proportion to the work completed.
In contrast, a complete mortgage is for those who are looking to buy an already completed property from the builder. Hence, financing is required only once the property is completely built. This complete payment can be paid back in a series of settlements preceded by a down payment.

WHY CHOOSE SWARN SIDHU AS

Your Construction Loan Specialist?

When making a considerably large investment, it is always better to make a well-informed decision. But to be informed, you need to make sure that your information comes from a reliable party - someone who is a professional and knows about the construction financing market. To do so, Swarn Sidhu is the ideal expert. Because he is well-versed in the subject and has years of field experience in the industry.
For professional builders, construction mortgages can be their funding to expand their ventures. You can increase your manpower, purchase equipment, acquire raw materials, and even pay your vendors. If you are a small-scale builder, you can even use this loan for other business purposes such as marketing, search engine optimization, or even social media marketing.

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What Should You Know Before Purchasing A New Property?

Properties require a significant amount of investment, hence, you should not go in blindly. There are aspects you need to look into before purchasing your new home or office space.

The Builder

The builder plays a key role in your construction projects. You need to make sure that the builder is reliable and does a great job at construction. Is his work thorough? Does he use quality raw materials for the project? What are the after-sales services offered?

The Plans And Documentation

Before committing yourself to a purchase, the plans and documentation are something that you need to go through. Check whether the final output corresponds to the initial plan, has the team completed the work as recommended and whether the documentation is in order.

Warranties

The warranties and guarantees should also factor into your purchasing decision. Because you need to be aware of what you are entitled to, even after the sale. Having these in writing before the purchase will help secure your privileges in the long run.