Construction Financing

Mortgage Brokers in Abbotsford, British Columbia

A construction loan is bank-issued short-term financing created for supporting a new home or another real estate project. A conventional mortgage will help you purchase an existing house. But a construction loan will help you build a new house from the ground up, especially if you also need to buy the raw land. Anyone investing their time and money in construction or related expenses can opt for this loan. A homeowner, a contractor, or a small business owner can use construction loans to finance their project.

Various types of construction finance are available, including secured and unsecured loans and equipment leasing. Since there is more lender risk, construction mortgages usually have more rigid qualifications and higher interest rates. The cost of construction loans relies mainly on the size of your firm, the type of your business, and a few other factors like your credit score and creditworthiness. Construction finance also puts you in a better position to take on larger jobs without worrying about getting paid for unsettled accounts receivable.

Some of the benefits of Construction Finance

  • No hidden charges
  • Tailored repayment options
  • Swift processing and disbursal of loan
  • Minimum record for loan approval
  • Confidential, if needed.
  • Reimburse wages, bills, labor costs, or suppliers before you get paid by the main contractor.
  • Approval of loan even if the property is yet to be determined

How can we help?

At Anchor Mortgages Canada LTD, our construction finance in Abbotsford, BC, is available for those with a proven track record aiming to complete any under-construction project. We help you gain the essential advantage of finishing your project with flexible financing options. Here you will work closely with a dedicated team of well-experienced associates who maintain high standards of values, integrity and transparency. Please find out how simple it is, and apply for construction Finance today.

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