A construction mortgage is generally an “all-in-one” construction loan. If you want to build a custom home or vacation property, 99rmortgage.com can help – from the land acquisition through to construction. We can even convert the amount you borrow into a variety of mortgages.
Qualified borrowers can access Conventional and CMHC/Genworth insured mortgage financing up to 95% of final completion (market value). When you qualify, you can secure financing for the acquisition, construction, and a term mortgage (known as exit financing) all at once. From the building process through the term, construction mortgage rates carry top interest rates and interest-only payments. A construction mortgage is specifically intended to finance the construction of a custom home or vacation property.
We have experience in all areas of construction finance:
Initial plans to completion
Self-Employed construction financing
Construction and rebuild programs
Exit (Term) mortgage conversion when the property reaches 97% completion
If your bank is not providing the help you deserve with new home construction then let 99 Mortgage provide a construction mortgage that will suit your needs. We have many flexible construction finance options that can get your new build completed with less stress and better drawdowns than a bank offers. 99 Mortgage has the experience to address your specific needs at your own pace.