Are you planning a construction project and need financial support to make your vision a reality? A construction loan is a great option to fund your build from start to finish. In this video, we’ll guide you through the entire process of applying for a construction loan, ensuring you understand every step required for a smooth and successful application. Whether you’re building a new home, adding an extension, or undertaking a major renovation, this video will provide clarity on how to secure the right financing.
What You’ll Learn:
Understanding Construction Loans: What makes the application for a residential construction mortgage different than a residential mortgage?
Eligibility Criteria: The factors that we consider when assessing an application, such as equity, income, and project scope.
Preparing Your Documentation: Essential paperwork you’ll need, including appraisals, project plans, budgets, and contractor details.
The Application Process: Step-by-step instructions on how to submit your loan application.
Loan Disbursement: How the funds are released during the construction process, including draw schedules and inspections.
Visit the Broker Resources section of our website to download our mortgage application, construction budget template, and approved appraiser list.