Land and Construction Financing in Ontario

Planning to purchase land, build a property or undertake a major construction project in Ontario? True North Financing helps property owners, builders and investors explore land and construction financing options. We help you review lender requirements based on the property, project budget, approval status, available equity and proposed repayment plan.

Land and Construction Financing Options

Land purchases: Explore financing for eligible land based on its location, zoning, servicing, value and intended use. Land financing and construction financing may require separate arrangements.
New construction: Discuss financing for residential or commercial projects, subject to the project’s stage, borrower qualifications and lender eligibility.
Major renovations and redevelopment: Review options for eligible projects involving substantial improvements or changes to an existing property.

How Construction Funding Works

Construction financing may be advanced in stages, known as draws, as work progresses. Each advance may require an inspection, supporting documents and satisfaction of lender conditions. Confirm the draw schedule, any holdbacks and the cash you will need between advances before proceeding.

What Lenders May Review

Property details, purchase agreement and existing financing.
Zoning, servicing, planning approvals and building permits, as applicable.
Project plans, construction budget, contractor information and timeline.
Your financial profile, available equity and source of required funds.
The proposed repayment plan, such as a sale or refinancing after completion.

Plan for Costs and Delays

Review interest, lender and brokerage fees, legal costs, appraisal and inspection charges, and any extension costs. Include a contingency for unexpected expenses and delays. Refinancing after completion requires separate approval and should not be assumed.

Discuss Your Project

Tell us the property location, project type, estimated budget, current approval status, financing amount and expected timeline. True North Financing can help you review potential options and the documentation needed for lender assessment.

Request a consultation about your project.

Financing availability, rates, terms and funding timelines depend on lender assessment and approval.

Contact

Mohan Malhotra, Mortgage Agent Level 2 (Lic # M11001890)
Lending Hub, Brokerage #12566
81 Zenway Blvd., Unit 25
Woodbridge, ON L4H 0S5
Phone: 647-456-3424
Email: mohan@tnfinancing.ca