Sunlite Mortgage offers construction loans tailored to your needs, providing funds to cover the costs of building, or substantially rehabilitating your property. Our comprehensive construction program encompasses both conventional and insured options, with terms typically lasting three years or less.
By utilizing our construction financing, borrowers can confidently cover land development and building construction expenses. Funds can be disbursed at each completed stage, following a prearranged schedule or specific milestones.
Our CMHC-insured and conventional construction financing is available for a range of properties, including retirement residences, purpose-built multi-family properties, mixed-use properties, and student housing.
When considering funding, an exit strategy is a crucial aspect. Conventional construction loans can be repaid from the proceeds of standard financing or through the sale of the asset. CMHC construction loans offer an automatic conversion option to term financing.
We take into account various factors, such as borrower experience, net worth, liquidity, as well as location, quality of the site, and market feasibility, especially for CMHC financing.
Consult our knowledgeable advisors to assess your options and determine the optimal path for finding and securing a smart-risk mortgage. Contact Sunlite Mortgage today and take a decisive step toward achieving your construction goals.
