CUSTOM COMMERCIAL SOLUTIONS

BUILDING YOUR BUSINESS. TOGETHER

COMMERCIAL MORTGAGES

STRUCTURED TRANSACTIONS

TRUSTED PERFORMANCE

CUSTOM COMMERCIAL SOLUTIONS

BUILDING YOUR BUSINESS. TOGETHER

COMMERCIAL MORTGAGES

STRUCTURED TRANSACTIONS

TRUSTED PERFORMANCE

TOUGH CREDIT CAN BE OVERCOME WITH THE RIGHT HELP

– ???? Years of lending experience
– Recipient of the …
– Ranked the No. 1 mortgage company
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GEMREAL Capital Corporation FSRA # 13189 (“GEMREAL”) is a boutique investment banking and mortgage brokerage firm focused on commercial real estate capital.

The firm was founded on integrity, experience, outstanding leadership and trusted performance. We believe in developing and sustaining long term relationships with our clients and maintaining the highest level of service. To accomplish this we provide clients with senior-level attention, comprehensive knowledge, detailed preparation and analysis, and top level industry relationships.

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Make your dream project a reality sooner than you think.
Diane will show you how.

A commercial real estate transaction is too important to risk financing mistakes. Secure your project and your investment by making the smart choice and contacting Toronto commercial mortgage broker Diane Bertolin. Her team maximises expertise while minimising hassle and will fight for you to obtain the financing to move your commercial real estate project to the next level.

If you are looking for land development financing, construction financing or a commercial mortgage in Toronto, then your first call should be to Diane Bertolin.

Construction Financing Toronto

Construction Financing Toronto

Finding the right home is challenging when you have so many styles to choose from and too many prerequisites. Maybe you want a home with a foreign style but includes a couple of colonial, modern, and personified features. These standards will make it even more challenging for you to find the perfect home because the market is unlikely to have that kind of property. The better option is to use construction financing to get your custom home.

Everything about a construction loan

What is a construction loan?

The construction loan is a short-term loan that covers the fee of the building. These loans cover many things, such as buying the land, drafting plans, and paying for all the labor and materials until you get a complete home. The following is a breakdown of how the construction residential loans work and whether it is better than other options.

How construction financing differs from a standard mortgage

The construction loan is different because it serves as a line of credit as one is building the home. This means that the loan will have the same underwritings as a bank loan, where the lender has to look at the credit score, debt to income ratio, and income to approve the loan. The good news is that people who get mortgage approval will also get construction loan approval because they meet all the prerequisites.

Another consideration is that the construction loan will always include a builder, a critical piece of the entire process. Understand that the lender wants to trust that the builder will complete the construction in the stipulated time to ensure the entire process meets the correct specifications and plans. It may be in our favor to know the builder’s work history, insurance agreement, and construction contract to set a realistic start and finish date.

How to qualify for a construction loan

Most lenders need a 20-30% down payment for a Toronto mortgage financing that will cover the new construction. However, it is essential to remember that the specific conditions are different for every lender, which means we have a completely different credit score and income requirement from the next lender. The following is a bottom line of all the things we will review to offer the construction financing in Toronto:

  • A high debt to income ratio
  • Credit score
  • Down payment
  • Repayment plan

How the loan works

Construction lending works by allowing you to borrow money that will fund the construction of the new home. Often, the lender will use your land as the collateral before they turn into the home’s mortgage once the building is complete. This means that the application process is more complicated than the mortgage application process because it details the loaning timeline, budget, and agreements. In general, lenders need to trust that you can repay the loan and follow all the formal rules to inspect and plan a thorough financing plan.

Diane Bertolin has a long history of managing different construction loans and the expectations from the builder and borrower. Check out our information online and contact us for more details on the construction loans mortgage.

Construction Financing Toronto

We welcome your comments!

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Toronto Office:

161 Bay Street,
Toronto, Ontario
M5J 2T6, Canada

289-337-8492

by appointment only

© Copyright 2021 Diane Bertolin, Mortgage Agent in Association With GemREAL Capital Corp. | Agent Licence: #M16001999 |Broker Licence: #13189
Website by Web GeeksSitemap | Terms and Conditions | Privacy |

Diane Logo white Small

Toronto Office:

161 Bay Street,
Toronto, Ontario
M5J 2T6, Canada

289-337-8492

by appointment only

© Copyright 2021 Diane Bertolin, Mortgage Agent in Association With GemREAL Capital Corp. | Agent Licence: #M16001999 |Broker Licence: #13189
Website by Web GeeksSitemap | Terms and Conditions | Privacy |