Loan Summary

Loan amount:

$1,970,000

Mortgage position:

Second

Type:

Single-family Development

Purpose:

Cost-to-complete Construction

Loan Term:

18 months

Status:

Funded

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

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