Our unique products cater to those borrowers who do not fit in today’s conventional financing box to multimillion-dollar commercial and construction financing. Our strength is our innovative and easy access to money even to the most challenging of cases.
Our unique products cater to those borrowers who do not fit into today’s conventional financing box, from single family homes to multi-million-dollar investment and construction financing. Our sole focus is delivering fast and easy access to money, even to the most challenging of cases.
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Freedom Capital is a full-service Commercial Brokerage specializing in Commercial & Alternative financing options. We thrive in creatively structuring mortgages that are outside the stringent parameters of your typical banks. Whether it's a higher mortgage amount, an equity takeout or simply needing an approval!
So 2018 was a very challenging year for mortgages. And a lot of our clients really struggled to obtain financing. One of the things we had to do as real estate agents was our subject removal, which was typically five business days. We normally have to extend now to seven to 15 business days in order to get a deal done because the financing side is so complex now and the amount of documents required is very lengthy for the client.
I’m also a land developer. When it comes to town house sites or subdivisions, we used to go to the banks to get our mortgages done. Unfortunately, a lot of them weren’t being approved, just because of the banks being so restricted, and not being able to get the approvals based on income, or even the land itself. So we were restricted by one project that we had in Langley. It was a townhouse site.
I was stuck in a financing package with one of the banks, and a major Canadian bank. So I couldn’t freely use my properties. I couldn’t trade. I couldn’t sell them. And I couldn’t cash them out, although that’s my business. So I was stuck in this situation.
The main challenge which developers face is starting from how to buy the property. How to hold a certain development project, especially when the financial market is tight and the lender A, especially the banks or credit unions are not financing these loans unless there are approvals in place.
So that’s where I think companies like Freedom Capital, who have an expertise in arranging alternate financing, helping developers like us raise financing right from the property purchase to getting it through the development permit process with the city, which takes quite a bit of time. And once the project is development permit ready, that’s when it can be taken to a type lender A, a bank or a credit union, at that time.
As soon as we became self-employed, we came up against some challenges. We needed two years of bank statements and accounts and tax returns. In fact, maybe even three years with some banks. So that was a real challenge.
There were so many opportunities that we wanted to jump on property-wise, investment-wise, and we were just missing out all over the place. In 2016, we saw an opportunity to purchase an investment property, and we reached out to the bank, and we even reached out to other well-known brokers as far away as Toronto, and we still were coming up against challenges. And as a last-ditch attempt, we got in touch with Freedom Capital, and they made it work. They made it happen. – Within days, we had a full application in place.
We’ve recommended to so many people who have challenges.
A lot of my developers are some of the biggest companies in the province. However, a lot of the mid-tier developers need financing. And through that, over the years, Pip has provided numerous of these people financing, and has come through, actually, in a clutch more than once for us. We greatly appreciate it, and he can do deals any size from anywhere, from 1 million to 35 million, 40 million. I’ve always found him extremely prompt, professional, and we’ve really relied on his service. We’ve found it’s getting harder for the mid-tier guys to get their financing in a timely manner, and then with all the new rules that have been coming in. So I would highly recommend using Pip for all your financing needs, be it a project or raw land or take out mortgages anything regarding that.
We’ve brought Pip in and he was able to go out and basically, at very competitive rates, get us the same type of product as the banks would provide, and it really has helped us and been able to, especially for the smaller guys, to expand.
We arranged a $ 178M Construction Facility Loan to build a 46 Storey Residential/Commercial Tower. We were able to obtain 90% loan to cost. Funded within 1 month after approval. At competitive rates!
Local builder was looking to purchase a 41 unit townhouse site in an ever growing city. Client were looking for fast financing as the banks didn’t come through. We were able to obtain an approval within 48 hours. We are now working on obtaining a servicing and construction loan prior to presales being obtain. Another way, Freedom Capital gets the deal done.
Client was looking into invest in a land assembly project consist of 7 parcels. We were able to obtain financing for all seven parcels with different closing dates at competitive rates. After purchase was complete, we obtained servicing financing so client could presell their lots with an option to build. We take you from purchase to construction.
$18.5M Loan Funded! Large high rise site, repeat clients required the next stage in financing. We refinanced the land to provide interim financing with additional funds to cover the servicing costs until they have the presales in place for the construction financing.
Clients obtain rezoning approval but needed funds to finish servicing and build 23 homes. Clients needed a servicing loan and construction so they could start presales. We were able to obtain financing for 100% of servicing costs and 80% Loan to Cost for the builds with no further equity required!
$50 Million Term Loan for a newly constructed rental office building. Client was near completion of his $75 Million 8 storey office building and looking to refinance his construction loan with additional funds to give the client time to secure leases and cover the costs of tenant improvements without requiring any further equity injection.
Client was facing delays at the city for their 16 unit Townhouse project and waiting for occupancy permit. Their construction was up for maturity but they only needed a few months to finish completing on sales. We were able to finance take out financing with open terms and a small discharge fee for each unit saving the clients thousands of dollars of renewal fees and discharge fees.
You absolutely can. We do not approve your mortgage request based on your credit score or net income. We simply look at Equity when approving your mortgage. It’s that simple.
If its rate your looking for, no need to pay us. Simply walk into your local bank. We are not looking to take your hard-earned money. Unlike other typical mortgage brokerages, they dabble in conventional, private and commercial deals. We call this the ‘Generalist’ approach. Why pay a broker to get you a bank mortgage? We are specialists in Alternative financing. If the bank declines you, we’ll be thrilled to help and provide a no obligation alternative.
Whether it be a 50k mortgage or a 150M high-rise construction facility, over the years we have solidified our national lender relationships to provide whatever funding requirements you may have.
We base all our mortgages on equity and not your income or credit score. If you are late on your current mortgage payments, we can look at refinancing options and save your home from a potential demanded Mortgage.
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Disclosure : Applying for a mortgage does not guarantee approval for the mortgage. No Upfront fee is applicable for the mortgage however processing Fees may apply. APR can vary depending on mortgage amount.
