Builder Loans – Canadian Mortgages Inc
CMI offers builder loans that make the demolition and rebuild process easier. With fast turnarounds on your application and interest-only payments, you can get started on your new home right away!
Interest-Only Builder Loans
All of our construction programs work on interest-only payments, helping to keep financial pressure to a minimum. What does this mean for you? With an interest-only loan you are not required to make payments on the principal. Your monthly payments will be substantially lower than with a traditional mortgage, giving you the extra money you need for your new home project.
At the end of your term you can enter into a mortgage or pay the principal. The certified brokers at CMI can help you make the right choice.
Service for Full Teardowns
Seeking to demolish an older home, and build a beautiful custom masterpiece? CMI’s expert staff will arrange financing based on the underlying land value, while simultaneously organizing a draw-based financial plan or line of credit program for construction costs. Our teardown programs are available in standalone or turnkey format.
Services for Rebuild & Expansion Projects
CMI has a wide variety of construction loans designed for major renovation, expansion, and rebuild projects. Highly-leveraged financing options can help keep capital investment as low as possible.
- Programs available for resale or owner-occupied properties with financing up to 95%
- 1st and 2nd mortgages available for a variety of project types and borrowers
Partners In the Progress of Your New Home
As you are planning and building your home, you’ll find that you need more than just a loan. You need guidance on which loan to select. You may need legal or financial planning advice. You might even need an appraisal done.
CMI mortgage brokers have the expertise to handle builder loans, but if you need other professional advice, try our Preferred Partners. They can assist you with legal and tax/accounting questions, appraisals and inspections, and financial planning.