A construction mortgage is generally an “all-in-one” construction loan. If you want to build a custom home or vacation property, Butlermortgage.ca can help – from the land acquisition through to construction. We can even convert the amount you borrow into a variety of mortgages.
Qualified borrowers can access Conventional and CMHC/Genworth insured mortgage financing up to 95% of final completion (market value). When you qualify, you can secure financing for acquisition, construction, and a term mortgage (known as exit financing) all at once. From the building process through the term, a construction mortgage rates carries top interest rates and interest-only payments. A construction mortgage is specifically intended to finance the construction of a custom home or vacation property.
We have experience in all areas of construction finance:
- Initial plans to completion
- Self-Employed construction financing
- Construction and rebuild programs
- Exit (Term) mortgage conversion when property reaches 97% completion
