Construction Financing
Asim Ali: Your Specialist for a Construction Mortgage in BC
Managing a construction project is a full-time job. You shouldn’t have to worry about managing the financing, too. Our service is designed to handle every financial detail of your construction mortgage in BC, from the initial approval to the final draw.
We coordinate with appraisers and lenders so you can focus on the build. To get an expert on your team to manage the money, contact us today.
Who Needs a Construction Mortgage?
This type of loan is perfect for anyone who is creating a new home or doing a major renovation, instead of buying a house that’s already built.
Custom Home Builders
You have found the perfect piece of land and have a unique design for your dream home. We help you get the new home construction loans you need. Understanding your budget from the start is key, whether you have a $50k salary or are planning a large estate.
General Contractors and Developers
As a professional builder, you need a steady flow of money to keep your projects moving. We arrange reliable construction loans in BC and builders’ mortgage solutions to make sure your projects stay on schedule, including financing for larger-scale projects like a commercial mortgage in Surrey.
Major Renovations or Teardowns
If your project involves tearing down an old house to build a new one, you will need this type of financing. It also applies to very large renovations that change the structure of the home.
Types of Construction Mortgages We Offer
At Asim Ali, we arrange the right financing to match your exact project. As expert new construction lenders, we offer a full range of solutions.
Why Choose Asim Ali for Your Construction Financing?
A construction mortgage in BC has many moving parts. Our deep experience means we know how to avoid problems and set up your loan for success from day one.
Most big banks in British Columbia have very strict rules for construction projects. We have direct access to a wide range of lenders who specialize in this field and understand the needs of builders.
We don’t just get you the construction loan; we plan for what comes next. Once your build is complete, we help you transition into the best long-term mortgage to save you money for years to come.
Let's Get Your Project Funded
Just like your home needs a solid concrete foundation, your project needs a strong financial one. We specialize in creating that foundation. We structure your construction mortgage in BC to be secure, reliable, and perfectly aligned with your build schedule, ensuring your project’s success from day one. We can even help you plan your final payments using a mortgage refinance calculator.
Frequently Asked Questions (FAQ)
Here are a few common questions we get about construction financing.
Construction mortgage rates are usually a bit higher than traditional mortgages while you are building. Once the home is complete, we transition you into a great long-term fixed mortgage rate.
This can depend on your project, but you will generally need a down payment of at least 20-25% of the total cost of the project (which includes the land and the cost to build).
You get your money through a “draw schedule.” At each major stage, an appraiser visits the site to confirm that the work is done. Once it’s verified, the lender releases the next portion of money to you.