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Custom home construction near Georgetown, ON

Custom home construction near Georgetown, ON

Morrison Financial is financing the construction of a custom home near Georgetown, ON. The home is being built by a luxury home builder and will have approximately 5,000 SF of living space once completed.The client also provided a collateral property located in Bradford, ON, to support the financing.  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.As of the time of writing, finishing work is in progress and the construction is expected to be fully completed in February.

Location

Georgetown, ON

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

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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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