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!
Title of Heading
Financing for a Future Development Site
Clients were struggling to obtain an approval on their purchase of a future development site. Freedom Capital was able to obtain sufficient funds of $6.8M so they could complete and have payments covered for one year.
Short Term Land Financing
$7 Million Land Loan funded for a repeat developer client. Client had an assignment in place and required short-term loan to complete on the purchase.
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.
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.
Rush Financing For a Land Deal
We secured financing for our clients land purchase in 1 week prior to subject removal. We met all the conditions of the lender and was time to close. Client needed access to fast funds due to a delay in obtaining funds for closing. Freedom Capital’s team jumped in, examined clients option and was able to use another property’s equity within 48 hours. PHEW! That’s was a close one. Our team pulls together even in the toughest of challenges.
Ask us how we can help with 100% financing options or downpayment shortfalls.
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.
6 Lots Subdivision Financing
Client was ready to start servicing their 6 Lots. Clients had a high equity injection into the project. They wanted a better solution without such a high equity injection. They wanted use their money to MAKE MORE MONEY. Banks said no because financials were not completed. We worked with a clients to devise a plan to ensure that their next project didn’t require a high upfront costs. Freedom Capital was able to get back some of their equity in the project and move the project to the next steps.
Financing for 7 Custom Homes
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.
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.
Equity Take Out Financing for 6 Phase Multi-Family Development Project
Equity take out land loan on a small BC island for a future 6 phase multi-family development project. Clients required funds to pay development fees, build show home and start marketing for presales.
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.