Construction Mortages designed for Prince George

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Get an 80% land draw, not 65%

Banks only provide land draws up to 65% of the value of the land when providing a construction mortgage. Here in PG where the land is inexpensive versus larger cities, getting that little bit more can get the project going faster.

Take draws on your schedule

Banks will only will provide 4 draws: one land draw, a foundation draw, a lock-up draw and a completion draw. These rules are stiff and don't always meet the financial requirements of your contractor, and sometimes can even leave you high and dry when there is a gap in the financing when the next phase requires more up front. We are flexible and can provide more.

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Get money to your contractor faster

Banks will use the "cost to complete" method when calculating your draws. What this means, is the greater the cost is to complete, the less you get. We use the "percentage to complete" method where you get what you've already done.

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Final Draw

Instead of 100%, at 97% completion we'll advance you the remainder of the money approved for the construction. Once fully completed, you are free to refinance your new home with your financial institution and get that lower, long term rate, at no cost from us. Easy. Simple. Flexible.