Construction Mortgage in Surrey
About Construction Financing in Surrey
A construction mortgage in Surrey BC can help individuals move their projects forward in their construction. Start your project off right by choosing a good an experienced lender, ideal mortgage terms and great construction mortgage rates in Surrey.
- Are you looking to construct your family home in Surrey?
- Are you a builder working on a new project with insufficient funds?
- Is the construction of your real estate being delayed due to a lack of funding?
- Are you working through the rezoning process and need financing prior to DP or BP?
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.
Client Testimonials
Why Should You Choose Freedom Capital?
At Freedom Capital, we look beyond the numbers to understand our client’s needs. Our private alternative mortgage brokerage firm caters to everyone and helps borrowers acquire quick and easy financing in as little as 24 hours*.
- Higher Loan to Costs (up to 100%)
- Less Equity Injection
- Less Presale Requirements
- To build Multiple projects
- Take advantage of land lift equity
- Getting funds for rezoning or servicing costs
FAQ
Construction mortgages work in draws. Draws are payments made by the lender in instalments and are typically issued after the completion of a milestone. For example, a draw may be issued once the foundation is laid. The borrower, builder and lender usually settle on a draw schedule before the loan begins.
A Typical Draw schedule is:
- Lock up – 50% Completion
- Drywall – 70% Completion
- Finishing – 90% Completion
- Occupancy – 100% Completion