Construction Mortgage in Alberta
Need Construction Financing in Alberta?
Having a house built is one of the most exciting decisions people make when moving. From the blueprints to the finished product, there are many intricate procedures to follow in order to build a property. Construction can be a stressful process, but a lack of proper finances can worsen that stress.
If you are a builder, constructor, or individual looking to self-build, construction financing can help you bridge the gap in your finances and cover the costs of any expenses.
If you can relate to these scenarios, you've come to the right place! With Freedom Capital, our borrowers receive custom-tailored commercial financing solutions and quick approvals.
Freedom Capital’s Unique Construction Mortgages in Alberta
Getting a construction mortgage can be difficult in Alberta. This is because banks and other lending institutions consider construction financing risky due to the lack of collateral.
If you are looking for a lender who can satisfy your needs and provide you with an optimal construction mortgage in Alberta with good rates and an easy approval process, Freedom Capital is the ideal lender for you.
We provide individuals across Canada with the quick and easy financing and custom solutions they need.
What type of properties can I construct with a construction mortgage in Alberta?
A construction mortgage can be used to construct residential, commercial, land and industrial properties.
Can construction financing be used to pay builders and other individuals employed for construction?
Yes. A construction mortgage in Alberta can be used to cover every expense related to the construction of a property, including:
- Equipment costs
- Labour salary
- Title fees
- And other such fees or costs
What are the basic requirements for a construction mortgage in Alberta?
If you are looking for a construction mortgage, some general requirements you might face are:
- Credit score above 620
- 20% down payment
- Reasonable debt-to-income ratio
- Credentials of the builder and contractor