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Mortgage News
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Construction Loan Mortgages
Turnkey construction mortgages are best thought of as “all-in-one” construction loans. We are able to help those seeking to build their own custom dream home or vacation property, right from the land acquisition stage all the way through construction, and ultimately converting the amount borrowed into a variety of term mortgages.
Construction Loans
From kitchens and basements to
additions, & teardowns, we can finance it all!
Experts are trained in a vast array of construction related topics including:
- Land value and as-improved appraisal processes
- Demolition and construction insurance providers
- Cost estimation and professional project packaging
- Self-build financing for qualified borrowers
- Self-employed construction financing available
Conventional as well as CMHC insured mortgage financing available for qualified borrowers up to 95% of final completion (market) value. Secure financing for acquisition, construction, and exit financing (term mortgage) all at once. This type of mortgage carries top interest rates as well as interest only payments throughout the duration of the building process as well as the remainder of the term. This mortgage is specifically designed for those looking to build their custom home or vacation property.
CMI can help you take your dream home and make it your home.
CMI offers a complete turnkey service:
- Land Acquisition & Servicing (link to land acquisition and servicing)
- Construction and Rebuild Financing
- Exit (Term) Mortgage Conversion
Program Summaries:
- For homes and custom cottages
- Tear down/rebuilds or new projects
- Builder loans available for equity extraction on raw land up to 65%
- Up to 95% of the completion value of the property or 95% of the value of the land plus construction costs, whichever is lower
- Up to five draws available
- Interest-only payments during the construction process
- Amortizations available up to 35 years
If you do not see what you are looking for, please call CMI for additional information. Your free consultation will provide us with the specifics details you require to best budget your financing requirements.
Contact us today and ask one of our construction representatives about the construction loan mortgages we offer.
