Shant Nalbandian: #1 Construction Loan Experts in Toronto  

Building your dream home or office from scratch may cost a lot of money, which can drown you in debt or force you to halt the construction process due to insufficient funding. A construction loan is the solution you need if you want a hassle-free construction process. Not sure how it works? We can help! With SN Mortgage's top industry recognition, obtaining Construction Loans in Toronto or any major city in Ontario is quick and easy. Speak to our experts today.

Toronto Construction Loans with SN Mortgage

Do you wonder to build a house of your choice or a part of the real estate fraternity where you see an opportunity but require that one kick of finances to make it work? You might just be in luck today to be reading this. If you have a passionate soul where the urge to move forward keeps the fire ignited in, you always then you might as well investigate construction financing where your financial needs are met easily. You may have a warm design for your home or an office that you wish to expand your business with. Either way, the financials required must be complemented with smooth options such as those offered by SN mortgage in the domain of construction mortgage loans. Toronto is a city of success where every new day is a new opportunity for you so why wait? Get in touch with the SN Mortgage team to get your construction started. You can connect to us or have us connect to you.

Call us: (416) 894-3976

Questions? We’re here to help!

Why Choose SN Mortgage for Construction Financing in Ontario?  

If Ontario is the place for you then we have your back for construction loans here as well. Our SN Mortgage team is expert in construction mortgage loans and caters to your requirement as a unique case on its own. Construction financing is the service provided by the lenders to pave the way for you to make your future secure by lending you an amount that will be required over the construction period which is normally 1 year but can be more as well. The investment you make today with a construction loan expert will return profit in the future as it will ensure a hassle-free process. The house you build of your own design will give you the utmost satisfaction and the entire concept is generously supported by new construction home loans serviced by the expert in domain, SN mortgage team. Why should you invest your trust with us if that is what you are wondering then let us explain?

  1. Knowledge is power. We are a group of strong-minded individuals who know their way in and out of the mortgage world where the mortgage may be for a building, home, or any other real estate property; our experts in the respective domain put their minds to test to get you the best possible deal. Our construction loan agents are well versed with the regulations of the construction financing.
  2. We offer the most expanded network of lenders who provide you with the most feasible interest rates on your home renovation or construction loans in Toronto. We work in a structured environment where the payment schedules do not burden you.
  3. We ensure that the funds are there right when you need them. It is always our working principle that the money is there when you need it because when it comes to construction loan Toronto the rules are promising for both parties. The amount we need is always going to be available as per your phase requirement. The money is always given out in phases where interest is only applied on the draw that you have made.
  4. Our interest rate policy is flexible. We allow you to pay back the loan along with the interest in the duration of your construction as per your ease. The interest that you pay is only paid on the amount of the total loan that you take, and this makes the monthly payment easy. New construction home loans are devised to keep in mind that a home is a part of your dream life and to pay for it should not be difficult for you.

Get Easy Access to Residential & Business Construction Loans

Loans are designated to provide us with finances when we require in the form of an organized plan that involves stakeholders such as construction loan experts and the lender agencies. Together they make your financial conundrum easy to manage. Lower interest rates, ease of mortgage approval and finding the appropriate mortgage loan is our goal.

Residential Construction Loan

Residential construction loans are not the same as a home mortgage that you take. It includes you buying the land, finalizing the design, and building a home of your dreams. New home construction loans are an option to use to make up front payments for the land and other service charges. These loans are always dispersed into phases which means you can withdraw the money as you use it and only pay for the interest on the amount that you use. Once you have the house of your dreams you must now pay back the loan that you acquired. A residential construction loan expert by your side is always an investment worth making when applying for it. Why do you ask? Because they have the knowledge. They know how to apply, where to put the documents and get it processed smoothly. Experts like SN Mortgage have been making ripples for the customers when it comes to getting approval done for the loans. Click here to have one of them contact you.

Business Construction Loans

Construction business loans cover the heavy costs of constructing a property such as materials, on-site facilities, machinery, and wages for the crew. The business construction loan is for you to apply for when you take your construction business or other business on another level by constructing a new real estate property. These loans are designed differently from regular loans to promote your passion of improving your financials as well as that of Canada as a whole. You might already have the land and you might use the equity it has gained overtime to give down payment for your loans for construction.   The loan is taken in the form of draws and interest is only applied as per the amount you have withdrawn. It is important that you have a business construction loan expert by your side such as SN Mortgage team who work day and night to ensure you get the best possible deal for your venture and the payment also does not put you in a crunch.

With construction loans many of your problems are solved. You don't have to worry about the payment of the crew, or the money required to source materials. These finances are provided due to you as per need and time requirements. The cash in hand always gives you an edge when it comes to you competing against a well-established competition and help you upgrade with the latest equipment as per the need. There are many options for you to choose from the types of business construction loans such as equipment financing, business line of credit, etc. All of this may become overwhelming when a newcomer steps into this market for the first time. Hence, we bring you our dedicated team to guide you about the options that you have with free initial consultation.

Call us: (416) 894-3976

Questions? We’re here to help!

Learn How We Process Construction Mortgage Loans in Toronto

It is vital for us to make you familiar with the general process of getting construction mortgage loans approval in Toronto and how long it takes. The process comprises of three basic steps:

  • Milestone completion
  • Construction draw
  • Contractor payment

The construction mortgage loans are taken out after every milestone is completed. Based on the type of property being constructed, an official may also pay a visit to the construction site to ensure adherence to the rules required respectively. The draws are the amount that you take from the total approved amount of the loan. This amount may vary based on the requirement that you have but with SN Mortgage, the availability of the funds is made mandatory to ensure you do not face any issues with the timeline of your project. Based on the policy of the bank or a private lender, the number of draws you make may vary. While the bank offers four, SN mortgage offers more, if need be, to facilitate your construction. Contractor payment is subject to be paid to the contractor and may vary accordingly.

🏆 Award-Winning Toronto Construction Financing Specialists: SN Mortgage  

SN Mortgage has been one of the oldest specialists to work in the field of loans and mortgages where the knowledge for construction loans Canada is top notch and the services provided are of a high quality. Our expert agents are equipped with an extended network of lenders as well as other financial organizations that believe in working together to make your dream come true. Whether you wish to buy a home through a home mortgage or build the house of your dreams using new home construction loans Toronto, the team will provide you with the best set of options for you to choose from.

Our free initial consultation policy provides great relief to our customers who are new to this and want to learn more before taking their financial decisions. You can contact us here or leave your contact for our agent to reach out to you. Our payment schedules are prepared by keeping the income and expenses of our clients in our minds so that the clients can achieve the house of their dream without having to be suffocated by a tough financial situation.

Our team of experts are well versed with the rules of construction loans Canada so that the customers are serviced with skill and the most appropriate solution is provided to them for their unique situation. In Toronto, our networking has allowed us smooth processing of home construction loans with lower construction loan rates to support our customers. You can calculate a rough amount for the mortgage payments that you might require by trying out our mortgage calculator that gives you an estimate of the mortgage payments.

Call us: (416) 894-3976

Questions? We’re here to help!

Shant Mortgage Brokerage Involves the Following Services  

Frequently Asked Questions

  • How Construction Loan Works in Toronto, Ontario?
    Construction loan approval not only takes an agreed lender but also a list of documents such as approved building plans, contractor agreement, evidence of applicant’s contribution, etc. The loans can be used for renovation or building both. They normally cover the cost during the construction period to serve as the required financial bridge.
  • Which is Better, a Construction Loan or a Mortgage?
    Construction loans are generally only a yearlong whereas mortgages may have a time-period as long as 30 years. Construction loans do not penalize early payments, but mortgages offer occasional penalties. Loans only apply tax on the amount used whereas a mortgage has an overall interest on the mortgage amount.
  • Are Construction Loans More Difficult to Obtain Than a Mortgage?
    Construction loans may come with their own set of strictness as compared to a mortgage due to several reasons. But it is not a difficult scenario, the requirement is that you have a high credit score with a good down payment of almost 20 to 25%. You also need evidence to prove your ability to repay the loan you are applying for within the required time-period.
  • How to Calculate Interest on Construction Loan?
    When it comes to construction loans Canada, the interest applied depends on the amount you have withdrawn. The interest on the monthly basis can be calculated by multiplying the interest rate with the loan amount withdrawn and dividing it by the number of months and you can get an average value of total interest you’ll pay each month.
  • What is The Deposit Amount for Construction Loans?
    The required deposit amount for construction loans is 20% of the property’s estimated value. This value might vary up to 25% based on other financial factors that may affect it.

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Shant Nalbandian is here to deliver exceptional mortgage solutions for each and every unique client need. We love nothing more than to help our clients save thousands of dollars on interest. Contact us for the latest in market info, and what it can mean for your mortgage. Simply fill out the request form here, and one of our friendly, knowledgeable agents will get back to you ASAP!

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