1st, 2nd, 3rd Short Term Financing
Construction financing, both residential and commercial, requires specialized expertise. In addition to the usual qualification requirements; construction mortgages require analysis of budgets, plans and the future market value of the completed project.
Unlike when you purchase a completed home, construction mortgages are funded in stages (or draws) based on work in place vs remaining cost to complete the project. There is a smaller pool of lenders to work with in this category due to the additional processing time and due diligence required. At RIFG we are very experienced in structuring construction mortgage requests and guiding our clients through the various stages until completion of their home. It is very important to have an expert assist you with this type of financing to avoid the many pitfalls and budgetary difficulties which can result in a very frustrating home construction experience.
We will ensure that building your dream home doesn't become a nightmare!
As long as you have equity in your home, instant approval