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Collateralized construction loan for personal home in Halton Hills, ON

Collateralized construction loan for personal home in Halton Hills, ON

Morrison Financial recently closed on an opportunity to provide financing for the construction of our client’s new personal home. The home will be built by a luxury home builder and will be approximately 5000 SF in size once completed. The build is expected to take 12 months. The client also provided a collateral property located in Bradford, Ontario, to support the financing (left picture). The existing equity in the collateral property allows our team to finance some soft and hard upfront costs for the project, providing the client with greater liquidity to carry the project forward. We look forward to the build out of this home!

Location

Halton Hills, ON

Loan amount:
$1,970,000
Loan Term:
12 months
Mortgage position:
Second
Purpose:
Cost-to-complete Construction
Type:
Single-family Development
Location:
Halton Hills, ON
Status:
Funded

YOUR CONTACTS

Speak With Our Team

Alenna Emer, CPA, CA

Chief Financial Officer

Chawin Vajanopath, MBA

Senior Director, Operations

Matthew Solda, MBA

Vice President

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Mortgage Lending

We tailor lending options for builders and developers across Ontario to assist with acquisition, site servicing and construction of primarily multi-unit residential real estate developments.

CondoCorp Lending

We work with boards of directors and condo property management to tailor financing focused on repairs, reserve fund shortfalls, and refinancing of guest suites or existing loans.

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We offer the opportunity to investors to participate in pools of mortgages, which produce monthly distributions with the target of the investments being capital preservations.

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