Generally a construction mortgage begins with a few things... the blueprints (and an appraisal of these plans) the strata lot (and technical information regarding this lot) and a thorough estimate created by your builder, which can then be given to your broker.
To pursue a construction mortgage your Broker will need the following:
1. Building plans
3. Fixed-price contract with "draw" schedule
4. Appraisal of Land
5. Appraisal of the completed build
What we will do:
We are solution-driven, and believe that living in a new home should be just as attainable (if not more so - due to warranty, etc) as living elsewhere!
We will work in conjunction with your broker and lender to find agreeable terms whenever possible... Generally, these terms look like an initial deposit, followed by a "draw-schedule" from the beginning to the end of the construction process.
We will work with you in transparency to create a home that reflects your lifestyle and needs-based upon a realistic budget.
What we won't do:
Urban Elegance Homes Inc. will not finance a home build in its entirety on your behalf.
We won't inflate our budget or excessively pad it to the detriment of our clients. We won't mislead our clients and overpromise a product that has not been allowed for within a budget.
We endeavor to work with you as a team and build a quality product that both parties can take pride in.