Construction loans for commercial, industrial and residential projects are important components to any construction project that requires financing. Each application for construction financing is unique and customization.
Like any form of financing, a construction loan must be secured by something of value. If the underlying property has sufficient equity to cover off the first draw of the project, a loan can be established as a second mortgage registered to the property. As construction advances, the property will grow in value and at predetermined points of completion more funds can be advanced against the increased value of the overall property.
Mortgage Alliance - Mortgage King has the experience and expertise to construction mortgages in Ontario, Canada. We can shop for the top banks and lenders in your vicinity that can give you great mortgage rate.
At Mortgage King, the only thing that matters to us is the home loan that's right for you.