Menu
Construction financing mortgages operate distinctly from standard mortgages. Funds are released in stages, known as progress draws, which align with the development of the project. These draws are typically distributed in three to four stages:
Choosing a lender experienced in construction financing mortgages is crucial. They provide valuable guidance throughout the process, ensuring timely and accurate disbursement of funds and keeping the project on schedule.
A Home Equity Line of Credit (HELOC) is a flexible credit facility that allows borrowers to access the equity in their home, with the available amount determined by the home’s appraised value minus any existing mortgages. HELOCs offer the advantage of only paying interest on the amount used, making them a cost-effective option for various needs. Our team excels in securing HELOCs for clients, offering competitive rates and terms, making it an ideal solution for those looking to leverage their home equity to meet their financial goals.
We specialize in communicating with lenders on behalf of our clients’ needs to get the lowest possible interest rates and establish a successful payment plan
Marketing Analyst
Sales Manager
Marketing Planner
A Home Equity Line of Credit (HELOC) is always fully open to repayment at anytime, and can be reborrowed as needed. This gives you the freedoom and flexibility to make as small as the minimum payment each month or even pay off your balance in full is you so chose. This can be very attractive to clients who also want to pay down more than the minimum each month.
In contrast to standard mortgages that provide the entire sum upfront, construction financing mortgages necessitate payments only on the portion of funds that have been released.
Throughout the construction phase, your financial obligation is limited to interest payments on the amount of funds released. This approach can lower your monthly expenses, allowing you to allocate funds to other areas as needed.
A construction financing mortgage grants you enhanced oversight of the building process. This allows you to guarantee that the project meets your exact specifications and that the workmanship quality aligns with your expectations.
Mortgage brokers are licensed financial professionals that have the resources to find the lowest rates and the appropriate payment plans for their clients. Working with a broker will save you time and ensure you get the best possible deal
A mortgage broker acts as the middleman between you and the extensive paperwork involved on your behalf for a set fee. They are often able to foresee problems that could arise during the application process and tailor your application based on what each lender needs.
The role of a mortgage broker is to act as a connection between the borrower and the lender to secure a loan on behalf of the individual or their business. Their responsibilities include negotiating rates, dealing with the paperwork, and facilitating an agreed-upon loan and payment plan
One of the most significant benefits of working with a broker is their extensive network, as they have the tools and resources to identify and obtain the loan that will fit your needs.
A mortgage broker compiles a homeowner’s financial documents, accesses their credit history, and confirms current and past employment to present an application to multiple lenders. They help negotiate the terms and conditions of your payment plan and, once the loan is agreed, will work with the lender to ensure a smooth and efficient transaction.
Mortgage broker fees in Ontario vary based on your unique situation and the solution you are seeking. Contact us today for a more personalized estimate of what you can expect your fees to be.
Owning a home is an investment that deserves detailed attention and care. When unexpected expenses occur, or you need to consolidate your debts, it’s essential to find the right broker to step in and offer a solution tailored to your financial needs. We operate with a vast network of lenders, including subprime mortgage lenders across the province, and we’ll work diligently to find the right match for our clients.
At Burke Financial, our mission is to give homeowners across Ontario the best possible borrowing experience through a high level of service and expertise.
When you work with us, you’re working with an award-winning team that specializes in getting even the toughest of applications approved. We’re putting money in your pocket faster, so you can invest in your future.
we know that each homeowner’s experience is unique. We offer a personalized approach and help connect our clients with subprime lending options across Ontario. From day one, we treat each interaction with our clients as a chance to change their borrowing experience to a positive one.
We take the time to understand what our clients are looking to accomplish with their applications. We personalize short-term and long-term solutions to help our clients achieve long-term financial health.
We look at our client’s main priorities to make sure we shape the optimal payment amounts, term length, prepayment privileges, interest rates, and much more. We know how important it is to align our clients with reasonable rates and terms and educate them on areas like an exit strategy to make sure they are always on the right path.
1-877-709-0709
