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allBecause I’m self-employed my bank was not willing to help me because of my income tax arrears.  Jesse helped me to refinance my home to pay off high interest credit cards, a loan and 2 years of income tax arrears. I’m saving over $750 per month for the next 5 year. I’m very thankful for his services and I’m referring to him anyone who is looking for a mortgage.

Michael

JESSE BRUN

Mortgage Intelligence
License #10428
Mortgage Broker (NB)
Mortgage Agent Level 2 (ON)
Top Canadian Mortgage Team Award
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Home Construction Loans Moncton NB

Moncton Home Construction Loans available to builders, developers, and Property Owners.

Moncton home construction loans are done for different types of projects. Moncton home construction loans can be used for single family dwellings, multi-units, apartment building, condo’s, etc. When it comes to getting a home construction loan in Moncton NB the approval requirements can differ depending on who is applying for the construction loan and for what kind of project.

For instance, a home builder or developer in Moncton NB is likely going to need to have home builder insurance in order to secure financing while an individual building their own home will not if the individual is applying with a regular bank. In today’s market, many builders and developers are using private financing/lenders when seeking home construction loans for their construction projects because the approval process with traditional banks can be lengthy and most times impossible to achieve during the construction or development phase.

When getting a home construction loan in Moncton NB from an institutional lender or a bank, the property typically needs to be free and clear of any encumbrances in order to make the financing work. To be more specific, most bank construction loans require first mortgage position against the property and in very rare cases will they be prepared to work in a second position, and then only if the first position is for a very small amount.

Another aspect of securing a Moncton home construction loan from a bank is that in almost all cases the bank or institutional lender will require that you also apply for the take out mortgage that will pay out the home construction loan when the project is completed.

Where cost of financing isn’t the primary concern of the borrower, private mortgage financing has become a very poplar type of home construction loan in Moncton and all over Canada and the US.

While private construction financing does cost more, it does provide a number of benefits such as a much faster application and approval process, and more streamlined and predictable draw process, and the lack of need for most cases to be approved for take-out financing before being approved for a home construction loan.

If you need to secure a home construction loan in Moncton or anywhere in New Brunswick, give me a call at 1(888)878-4660 so I can go through your situation with you and explain to you your best options for your situation. I look forward to helping you finish your projects.

 

Jesse
1(888)878-4660
Mortgage Specialist

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Brokerage: Mortgage Intelligence Inc.
toll-free: 1 (888) 878-4660
homeloans@jessebrun.com
77 City Centre Dr, Mississauga, ON L5B 1M5
200 Champlain St. Dieppe, New Brunswick E1A 1P1
*Award is for 2016-2017 Top Canadian Mortgage Team within Mortgage Intelligence organisation. Award is given by Mortgage Intelligence and for Top Canadian Mortgage Team within Mortgage Intelligence Company / Organization. Award category is "Team with 20 mortgage brokers / agents or less."