Commercial and Construction
Commercial mortgages are similar to residential mortgages except that commercial buildings or other business-related real estate is used as collateral to secure the loans. In addition, commercial mortgages are typically taken on by businesses instead of individual borrowers. The borrower may be a partnership, incorporation, or limited company and the assessment of the business can be a more complicated process. We can assist you in getting the best rates and terms for your commercial project.
Our construction loans are on average 85% Loan to cost (LTC). Clients can receive pre-construction draws for excavation and demolition. Purchasers deposit can be used towards the development –Some conditions apply.
Construction loans cover land development and building construction costs for a new or existing residential, and/or commercial project. Funds can be disbursed as needed, as each stage is completed, according to a prearranged schedule, or when certain conditions are met. Construction loans are paid off from the proceeds of permanent financing (usually over a period of 24 to 36 months) Whether you are looking for funds to purchase land, cover soft and hard cost, pre-construction, bridge loans, mezzanine finance, conversion loans, construction loan, or ways to reduce your financing costs, CMFG has access to the resources you need to see your project through to completion.
The CMFG team has significant expertise in commercial financing. We have been recognized as Top Commercial Brokers across Canada by Canadian Mortgage Professionals 2016. We have worked with developers and major players across various industries, financing some of the most recognizable structures, commodities, hospitality and brands around the world. Our collaborated partnerships with equity investors, LP Funds, pension capital and other mortgage funds has enabled us access to capital without a cap on dollar amount therefore we can facilitate a transaction if it’s a project of interest. We will advise within 48 hours whether it is a deal of interest or not. The assurance of working with a trusted partner and knowing that your funding is secured is why so many companies have chosen CMFG. As of recent, our CEO received the Canadian Mortgage Award for Best Alternative Lending Broker of the Year 2017 across Canada!
At CMFG, we always look at the most affordable solutions for our clients. Projects we will consider:
- Condominium developments
- Development land
- Oil and mining projects
- Hotels and Motels
- Builder inventory loans
- Mixed use projects
- Multi-unit residential developments
- Religious facilities
- Gas stations
- Shopping malls and plazas
- Industrial buildings
- Apartment buildings
- Commercial buildings
- Recreation and resort properties
- Student housing
- Retirement and nursing home facilities
- Private schools
- Property conversions