$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.
Title of Heading
1st Mortgage for a Multi Family Purchase of a Development Site
The client was looking to complete a multi-family subdivision (townhomes and single family homes). This was a lucrative deal, as all zoning was in place. Once they took possession, the client could market the single family lots and achieve enough equity to build the remaining townhomes. They knew they had to move fast on this opportunity, so they reached out to us as their trusted partner. We were able to obtain the 1st Mortgage for land-only financing of $ 7M with highest loan to value available in the market.
Land money is as scarce as available development land – ask us how you can use our trusted connections to find what you need and get the financing you require.
13 Lot Approved Subdivision 1st Mortgage Financing Including Construction Funds for Snow Homes
PLA approved 13 lot subdivision located in Grandview Heights area of South Surrey. There are 6 RF-10 homes and 6 RF-13 homes. expected gross sales for all 13 lots and including 12 constructed homes will be $17,100,000. Our referring realtor advised his long term client was looking for servicing and construction financing and need a push to get the bonds posted to the city so he can start presales.
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!
Banks Said No to Company Income
Rush closing of $4.5M loan obtained in 5 business days! Bank was not able to close on time during busy market. We obtained a high loan-to-value mortgage for a development land purchase.
1st Mortgage Refinance for Rezoning and Servicing Costs
Client has a holding property that was being rezoned for a townhouse site. They invested their funds in the purchase of the property and carrying costs. They are now ready to post bonds to the city and start servicing the site. We were able to get enough funds to pay for the rezoning costs & servicing, and no payments for 1 year until they are ready for construction financing.
We think about your cashflow issues AND keep your project going.
1st Mortgage Financing for Final 3 Lots for High Rise Development
A client was competing on the last three lots for assembly for a future townhouse site. They were looking for a fast turnaround and we got an approval within a few days of receiving all the documents. We were able to obtain a 1 year mortgage of $3.28M that will mature right before rezoning would reach 3rd reading. One year from now, we will assist with the construction financing.
We are very happy to work on a detailed financing plan for all your projects: from un-zoned to rezoned to construction.
Quick Close New Hold Co!
Quick close on a 6 lot assembly purchase under a brand new holdco for a future City Approved subdivision. Freedom Capital was able to secure a $3.365M 1st mortgage.
1st Mortgage Financing For 4 Lot Assembly Project
A client was looking to buy a 4 lot land assembly for a future multi-family site. However, one lot closed in a week and the other three a few weeks later. So we had to work quick!!
We worked with our trusted lenders and lawyer partners to get him enough funds to close so he wouldn’t lose out on his investment. We also closed the other three lots and allowed him to start the rezoning process.
Land deals are hot right now! But lenders are slowly pulling back on the land financing options. We can help. We have options for you and your investment partners.
10 Unit Future Townhouse Land Purchase
Client was looking to complete on a 10 unit townhouse site. We were able to get them a high loan to value and help them move to the next phase of rezoning. But, it doesn’t stop there! We are already in talks for funds for servicing and construction.
1st Mortgage Land Purchase Financing
While vacant land is hard to find, sometimes financing for the land is hard to find too! Our client reached out to us, given it was difficult to obtain land financing due to the current market conditions. We reached out to our trusted lending sources and obtained a competitive offer for them in today’s market. The clients were able to close under a holding company with several partners. Next steps: working with the city on rezoning the project for a multi family construction.
We have many trusted sources of financing that we built over 12 years. Trust us, we are the experts when it comes to your land and construction financing needs.
1st Mortgage Refinance for Land Assembly for a Future Multi Family Development
Worked several months with a client that was buying three lots for a land assembly for a future multi family development. They will hold onto to the property and generate income via Airbnb until they are in the advance stages of rezoning. We helped the client set up quick and easy funding. Once he establishes his income, he will refinance with the banks. Once rezoning is closer to completion, he will touch base on his land and construction financing needs.
We don’t talk about just today’s financing needs. We look at the whole picture – years from now.
Need expert advice? https://www.freedomcapital.com/apply-now/ or speak with a representative 1-866-944-7778.
*Some conditions apply