Construction Mortgages

Basic questions you need to ask the client:

  • Is it a purchase or they already own the land?

  • Current Value of the land

  • Are they building to live in or build to sell?

  • Construction Budget

  • Final Value after the construction is done.

  • Builder's Name and Info.

  • How much current mortgages are on the property (If there is any) - Need complete details about them

  • Are they looking for 1st Mortgage or 2nd Mortgage?

 

Documents required

  • Signed and Accepted Contract of Purchase & Sale including all Addendum's. 

  • Property Disclosure Statement

  • Listing Data Sheet, and

  • Title Search copy.

  • Copy of Completed Budget for detailed Cost-of-Construction.

  • Copy of completed Floor Plans.

  • A recent Mortgage Statement from within the last 30 days, indicating (a) client name (b) the account information (c) property address and (d) current balance.

  • Builder’s Resumé of Experience for most recent 3 projects completed, including Scope of Work and Property Addresses.

  • Copy of 2019 Municipal Property Tax Notice.

  • Networth Statement

 

Resources

Download Now

Net-worth Statement

Client Engagement Letter

Construction Budget Template

 

(604) 593-1550

(604) 608 5508

12725 80 Ave Suite 202, Surrey, BC V3W 3A6, Canada

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