FRANÇAIS SERVING Ottawa, Kingston, Cornwall, Orleans, Kanata, Kemptville, Ontario, - MOBILE
Chad Robinson
C   P 613-590-7100
Email mortgages@bestinterest.ca
Creative Capital for your Construction Projects
 
Are you tired of your projects being underfunded or draws not coming when they are supposed to?
We are a team of construction experts!  We have construction draw programs designed for each type of scenario.
  • The Approved Builder
  • The Commercial developer
  • The self build home owner
  • 1 year rate holds for the client buying a home from a new builder.
 ​
The Approved Builder or Commercial developer
Funds can be used for Land Acquisition
  • Max 80% of completed value
  • Up to 65% advance on raw land value at registration
  • No requirements or limits on # of draws
  • Fully open for repayment with no penalty
  • Rates starting at Prime + 1%
  • Lenders fee 0% - 2%*
  • Broker Fees 1-2%
Depending on the lender chosen there can a limited # of draws or as many as you like. Each draw normally comes with a draw fee and is based upon the file sale,
the % completion less the hold back. It is very important to properly cashflow plan. Below is an average construction progress schedule for a home construction. 
 
Larger commercial files are based on a similar schedule but will use a cost consultant instead of an appraiser.
 
Draw schedule & Progress Report
 
    Project Completion %
Draw 1 Excavation, Foundation and Backfill 14
Draw 2 Framing & Roof 17
Draw 3 “Lock up” + Rough in  electrical, plumbing and heating & Insulation 12
Draw 4 Exterior Finish, Drywall, Cabinets, electrical  complete 37
Draw 5 Plumbing, Basement floor, painting all other finishing & Grading 20

Contact our office at 613-590-7100 or email mortgages@bestinterest.ca to speak with a construction speaclist.  
 

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Total amount raised
$16,804.00
Updated: 09/11/17
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