Construction Loans
Let Interfinance Mortgage Corporation help with your construction loans today.
Construction Mortgage Solutions for Your New Home
Interfinance Mortgage Corpration is committed to helping you set a realistic budget for your home build. Interfinance Mortgage Corporation offers competitive rates for two distinct types of construction loans: Completion Construction Mortgages and Progress Draw Construction Loans. Our aim is to simplify the process of financing the construction of your new home.
Completion Construction Mortgages Made Simple.
If you’re buying a home from a Residential Home Builder at a fixed price upon completion, a Completion Construction Mortgage is the ideal choice for you. With this option:
- The builder owns the lot.
- You make a down payment when the offer is submitted for the house, which can be paid in several installments.
- Money is only required when the home is complete.
Getting You Approved, Even When The Banks Said No.
Progress Draw Loans for Custom Home Construction.
- You have already purchased or own the lot.
- You need a short-term loan, typically lasting from 6 months to 1 year, to facilitate the construction process, with funds distributed in stages, subject to inspection approval before the next disbursement.
- A Completion Mortgage is subsequently required once the construction is complete to pay off the Progress Draw Construction Loan in full.
Interfinance Mortgage Corporation’s dedicated mortgage brokers excel in seeking out the best home loan rates in the market. Leveraging private lenders and in-house funds, we provide competitive rates and streamlined approval processes, even when traditional big banks may not.
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Are You Considering a Construction Loan?
Let us help you find your Ideal Solution Today
Get Pre-Approved for Your Construction Loan.
Interfinance Mortgage Corporation is committed to helping you set a realistic budget for your home build and obtaining pre-approval for your construction loan. Leveraging your finalized house plans, a builder’s contract, and an appraisal of your new home’s projected value, we can authorize and approve a loan to kickstart your dream construction project.
For a comprehensive understanding of the construction loan process and how we can assist you, reach out to one of our experienced mortgage brokers for a free consultation. Building your dream home can be simpler than you think with Interfinance Mortgage Corporation.
Your Mortgage Solution Starts With
Frequently asked questions
A Completion Construction Mortgage is designed for buyers purchasing a home from a builder at a fixed price where funding is typically required once construction is complete. A Progress Draw Construction Loan is intended for custom home builds and releases funds in stages throughout construction, based on inspection milestones.
Yes. Construction loan pre-approval may be available using finalized house plans, a builder agreement, and an appraisal of the projected completed home value. Getting pre-approved can help establish a realistic construction budget and provide greater confidence before breaking ground.
Down payment requirements depend on the type of construction financing and overall project details. Factors such as land ownership, builder agreements, projected completed value, and available equity may all influence financing eligibility and required upfront investment. Speaking with a mortgage broker can help determine the best structure for your build.
What Our Clients Say After Working With Us.
My husband and I have had the pleasure of dealing with Kiran from Interfinance Mortgages on a couple occasions and she has exceeded our expectations. Very straight to the point, honest and helpful. Would highly recommend!
Pretty R.
Working with Kiran at Interfinance Mortgage Corporation was a fantastic experience. She helped us secure a home construction loan, and the entire process was handled with professionalism, patience, and genuine care.
Baskaran R.
Was placed in a sticky situation. Kiran and her team at Interfinance were extremely helpful. They put together a mortgage when no other lender could help. They are trustworthy and fast. They are easy to speak with and can help clear your debt.
Gagandeep K.