Financing for Projects in Progress.
Construction financing conversations for qualified developers, builders and property owners planning commercial, multi-residential or residential development projects.
Financing is subject to lender approval, property review, borrower qualifications and applicable terms and conditions. Information is general only and is not a commitment to lend.
Construction lending follows the project.
The lender review normally considers the site, approvals, borrower experience, budget, equity, construction plan, draws and exit strategy.
Site & Approvals
Ownership, zoning, permits, plans and material municipal or development approvals are reviewed according to the project stage.
Budget & Equity
Sources and uses, borrower equity, contingencies and cost estimates help define the proposed financing structure.
Draws & Completion
Advances may be tied to construction progress, inspections, quantity-surveyor reports and satisfaction of lender conditions.
Build the file before the building.
Available architectural plans, permits, zoning and development information.
Detailed construction budget, contracts, schedule and contingency planning.
Borrower or builder experience, pre-sales or leasing where relevant, and the anticipated repayment or term-financing strategy.
Every project is assessed individually.
Loan amounts, advance schedules, holdbacks, fees, pricing, guarantees and reporting requirements depend on the lender, project, borrower and stage of construction.
A clear financing process.
Paul coordinates the mortgage review through GNE Mortgages and helps organize the information lenders typically require.
Initial review
Discuss the property, financing goal, timing, borrower profile and available documentation.
Lender fit
Review potential lender categories, expected documentation and material terms without making unsupported promises.
Application
Submit a complete file for lender assessment and manage questions, conditions and next steps.
Review the development plan.
Start with the site, budget, approvals, borrower equity, construction schedule and intended exit.