$178 Million High-Rise Construction Financing Funded! A 46 Storey Residential/Commercial Tower in Surrey.
High-Rise Construction Financing
Mortgage Amount : $ 178,500,000.00
Recently Funded
Title of Heading
We collaborate as a team to provide quality customer service and creative financing options that meet our clients’ needs. Our devoted team works round-the-clock to deliver fast results.
Freedom Capital was founded in 2010. Today, we operate as one of the largest National brokerages solely dedicated to the alternative and commercial mortgage market in Canada. Our team of specialists have combined experience of over 35 years in the mortgage lending industry. Over the years, working in the industry we have seen banks and all other government regulated financial institutions eliminate programs and tighten their approval process. Freedom Capital recognized the need for alternative financing -for those individuals that require more diverse financial options.
Type of Financing
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Funded Mortgages
Townhouse Construction
41 Townhouse project on a 2.486 Acres site located in the ever growing city of Maple Ridge. Clients have received PLA and are about 1 month away for 4th Reading which at that time clients will be issued the development permit. Clients own another .05 Acre lot on same street and client will be also purchasing an adjacent property of 1.188 Acres. Both of these properties are slated in the OCP as future townhouse developments
Mortgage Amount : $ 20,575,000.00
From Land Assembly to Subdivision
Six parcels of land situated in the next developable area of the ever growing Grandview area of South Surrey. The 7 parcel assembly has successfully received its PLA (3rd reading). The project consists of 54 single family lots. Combined land size is 7.3 Acres.
Mortgage Amount : $ 16,600,000.00
Closed in 3 days
$4 Million land and servicing loan funded in 3 days! The client’s local lender backed out at the last minute requesting presales. Same day approval.
Mortgage Amount : $ 4,000,000.00
Construction Foreclosure Rescue
High 75% loan-to-value construction foreclosure rescue on 2 homes! Builder had unforeseen cost overruns. This new refinance not only saved the client’s properties/equity but client will make more money in this current busy market
Mortgage Amount : $ 3,170,000.00
LTV : 72%
16 Unit Townhouse Project in South Surrey
16 Unit Townhouse project in South Surrey that was facing delays from the city on getting their occupancy permits. The project is to include 16 – 3 Storey wood frame buildings. The buildings will include a mix of 4 bedroom and 4 Bathroom with either side tandem garage units. We arrange the take out financing while the units were being sold by a local realtor. This allowed more time for the realtor to sell each unit at the optimal value and earn more commissions.
Mortgage Amount : $ 12,000,000.00
Eight Storey Commercial Building
Client’s eight storey commercial building was under construction. They had about 70% of their units leased and 28% into construction. They were looking at their cashflow and knew that the financing in place would bring them close to finishing but not all the way. As a trusted mortgage partner, they seeked out Freedom Capital to provide options to see what we could do. Freedom Capital was able to reduce their personal exposure on the project and obtain more funds including tenant improvements.
Mortgage Amount : $39,500,000.00
70% Loan to Cost for a Construction
Small town construction? No problem, we’ve got you covered! Freedom Capital was able to finance 70% loan to cost for a construction of a spec home located in Prince George. This freed up clients equity for a new investment opportunity
Mortgage Amount : $ 457,600.00
LTV : 65%
Construction Financing for High End Home
100% construction costs financed for a high end home. Client was able to purchase a large lot with minimal down payment and with the help of Freedom Capital secure construction financing without having to put any more money into the project.
Mortgage Amount : $ 2,400,000.00
LTV : 68%
Equity Take Out Funded in 48 hours!
Equity take out funded in 48 hours! Client needed money to complete a construction project. He provided his own personal residence property and Freedom Capital was able to secure a hassle-free 2nd mortgage giving the client access to his equity. Client will be able to pay this 2nd mortgage off penalty-free once he completes and sells his project
Mortgage Amount : $ 355,000.00
LTV : 34%
Construction Loan for a Single Family Home
Construction loan for a single family home in the Okanagan. We had the loan approved in less than 24HRS and quick funding to get the project going right away.
Mortgage Amount : $ 1,350,000.00
LTV : 55%
Single Family Subdivision Construction
Clients were finishing their servicing for their 7 custom home subdivision. With the demand of affordable single family homes, client sold 5 of their 7 custom homes. Now what? Client put all their funds into servicing, city fees and getting the lot ready for construction. With the completions of the new home looming in less than 6 months, client needed a plan of action. Freedom Capital was able to get construction financing for ALL 7 custom homes and enough funds for them build all homes all at once and take draws when needed. No money was required up front due to equity they had in the project.
Mortgage Amount : $2200000
LTV : 75%
