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Applying for a Construction Mortgage

construction mortgage

With the majority of Canadian home buyers and real estate investors they will tend to buy existing properties. They also purchase pre-construction properties. These are detached, semi-detached, townhomes or condo apartment buildings that are in the process of being constructed by a builder.

However, there are those individuals or investors who prefer to build their own custom homes based on their own design specific preferences. For these clientele they will have to apply for a construction mortgage. A construction mortgage is designed to help with the financing of building a new property or doing major renovations on an existing property.

Applying for a construction mortgage is a long process and that’s why it is important to work with a mortgage professional who knows the ins-and-outs of the application process; more importantly the processes involved for applying for a construction mortgage.

If you are in the market to build a custom home, or larger property contact Trusterra Mortgage. We are are ready to work with you and assist you applying for a construction mortgage. Contact us to learn more about construction financing and to get started with your next construction project.