Construction Mortgages in Alberta
Building mortgages can be tricky. With the Mark Herman team, they're not.
Construction Mortgages in Alberta are difficult.
Whether you're trying to get a construction mortgage on a new-build in Calgary, a building loan on a duplex in Edmonton or you want to look at your options to working with bare land mortgages in Red Deer, we can help. The reality is, construction mortgages are much more difficult than your typical home purchase or refinance loan. This is because of the inherit risks associated with lending on a home that during the construction, is just a lot less marketable than your average home. Many banks in Alberta also require you have a much larger downpayment on construction and build mortgages - regardless which area of the province you're in. In the end, banks make getting mortgages to be used for construction, renovations and other projects difficult.
Withdrawl Schedules? Lockup? We can help
Beyond making getting the mortgages difficult, they make the process of actually getting money challenging as well! From trying to figure out your withdrawal schedule in advanced (how much do you need to get to lockup? Foundations? Finishing?), to planning on exactly how much you're going to need, construction mortgages are difficult!
Why Choose Us?
Mark Herman and the team are here! We've been called the experts on construction mortgages in Alberta and have experience working with clients in Calgary, Edmonton, Red Deer, Lethbridge and many smaller towns across the province. With decades of combined experience, we will help you navigate getting a better rate, negotiating better withdrawal schedules, and if possible, refinancing after the build to an even better mortgage to suite your needs. We are very mindful of the fact that any construction is hard and can be very stressful, which is why we make sure to arange the best mortgage options possible, removing at least one stressful item from the project list.