Helping Canada Build With Construction Loans

Creating a viable future for yourself can be a huge challenge. From finding an architect that can translate your dreams into reality to settling on the ideal property location, you’ve got your work cut out for you when it comes to making a lasting investment.

Whether you’re building an office that helps you get work done and gain equity or simply trying to create a home that reflects your personality and lets your family grow, funding is one of the biggest challenges of all. With construction loans, you can accomplish more than you ever thought possible.

Why Are Construction Loans so Important?

Millions of Canadians want to cultivate personal spaces and business environments that cater to their unique needs. If you’re one of the many whose requirements aren’t so easily met by generic properties, then you might face extra hardships with traditional lenders.

Lenders, like banks, are all about picking the soundest investment opportunities they can find. Unfortunately, your construction project isn’t quite as enticing of a proposition as you might assume. Even though you may be totally committed to seeing things through and giving your new property the love and attention it needs to grow in value, banks see it as a high-risk loan on an uncertain, unfinished asset.

How Construction-Specific Lending Works

At Alexa Capital Corp., we look to the value of your property and how much equity you have built up.  You may have purchased a piece of land that you want to build on.  We would be able to give you a mortgage based on the value of your land up to a certain amount.  If you’re part way through the construction of your home, you’re at lock up, and you need a little more cash to finish it off, we’ll find out the appraised “as is value” and determine a loan based on that appraised value.

Choosing the Right Lender

Many financial institutions offer construction lending, but the products that you’ll encounter out in the wild vary. For instance, some banks include restrictive limitations on who can qualify. Others only let you get a construction mortgage if you jump through a range of inflexible procedural hoops, like working with approved builders.

Private lenders like Alexa Capital Corp. empower you to make smart borrowing decisions and plan for a brighter future.

By providing you with the financial freedom and in-depth knowledge that you need to choose a construction loan that’s tailored to your specific situation, we make it simpler to realize your goals. To discover more about why we’re one of Canada’s favorite private lenders, contact our advisers online.