Self builders & custom home owners
You are planning a home on land you own or intend to buy. Lenders may evaluate the plans, permits, budget, construction team and how you will manage the work and carry its costs. A self build mortgage in Toronto is subject to the lender’s criteria; not every lender considers owner managed construction.
Bring: Property details, project plans, builder or contractor arrangements and your repayment plan.
Custom home builders
You are building for a client or developing a home for sale. Builder financing in Toronto may depend on the project’s structure, site, budget, construction track record and proposed exit. The financing needs of a client owned build may differ from a speculative build.
Bring: Project ownership details, construction scope, contractor information and a supportable budget.
Small to mid developers
You are exploring infill, multi unit or other development projects. Lenders may assess the stage of approvals, project team, capital already committed, site value, marketability and exit strategy. Early planning does not establish that construction financing is available.
Bring: Site information, approval status, project scope, financial projections and the proposed repayment event.
Teardown & rebuild project owners
You are replacing an existing structure. A lender may consider the impact of demolition and rebuilding on its security, the project plan and your ability to complete the work. Do not start demolition assuming an existing mortgage or future advance will cover the project.
Bring: Existing mortgage details, proposed plans, demolition and construction scope, and professional project estimates.
Major renovators & addition projects
You are undertaking a substantial addition or structural renovation rather than cosmetic work. Financing options can be influenced by the current mortgage, extent of work, property value and repayment plan. Permits and technical requirements should be confirmed with qualified professionals.
Bring: Current property information, the scope of work, contractor details and a general budget.
Buyers bridging a sale and purchase
You are buying a property before the proceeds from your current property become available. A bridge loan in Toronto may address a timing gap, subject to the lender’s review of agreements, sale conditions, proceeds and closing dates.
Bring: Purchase and sale agreements, closing dates and existing mortgage details.
Not sure which category fits?
A project can involve more than one financing need. Describe your situation so the conversation can focus on the actual timing, property and repayment plan. Financing is subject to lender approval and underwriting.