New Build Mortgage
Services In Canada
Building your dream house from scratch can be exciting but very financially burdensome. The New Build Mortgage will come to the rescue and save the day.
At Diverse Mortgage Group, we can offer you unique New Build Mortgage Services in Canada so that your vision can materialize without financial stress on your doorstep.
What's A New Build Mortgage?
A New-Build Mortgage is a unique mortgage for the individual or developer constructing a new home.
Unlike other mortgages for existing properties, this financing is disbursed in stages as the construction progresses to ensure that funds are available when needed.
Our New Build Mortgage Services
The Diverse Mortgage Group simplifies the complexities of financing your new home with New Build Mortgage Services in Canada.
Our services are as follows
:
Pre-Construction Planning
We guide you through the initial stages, helping you secure pre-approval and finalize construction plans.
Competitive Rates
Our extensive lender network provides the lowest new Build mortgage rates.
Flexible Financing Options
We create a mortgage plan that fits your construction timeline and financial goals.
Stage-Based Funding Support
Our team handles the drawing process, ensuring funds are released smoothly at each milestone.
Transition Assistance
Once construction is complete, we help you transition seamlessly into a traditional mortgage.
Expert Guidance
From budgeting to documentation, we are here to give you the most personalized advice at every stage.
How Does A New Build Mortgage Work?
Approval Process
Before the construction starts, lenders assess your financial situation, construction plans, and property value to approve the loan.
Interest Payments
During construction, you will only pay interest on the funds drawn. This will help keep costs in check until the home is completed.
Draw-Based Funding
Funds are drawn in phases (known as draws) at significant points such as foundation completion, framing, and finishing.
Final Mortgage Conversion
After the construction, the loan becomes a standard mortgage with fixed or variable rates.
Benefits Of A New Build Mortgage
Tailored for Construction Projects
Designed specifically to meet the unique financial needs of building a home.
Stage-Based Financing
Funds are released in manageable portions, so you only borrow what you need when needed.
Interest-Only Payments
Pay only interest during construction, reducing financial stress until your home is complete.
Customization Flexibility
Build your home exactly as you expect it, without the constraints of pre-built properties.
Why Diverse Mortgage Group?
Diverse Mortgage Group is your newly built mortgage services provider in Canada.
Here’s why:
Industry Expertise
We have more than 25 years of experience in the mortgage business and know what construction financing requires.
Widespread Lender Network
Our connections with leading lenders help us get competitive rates and the best terms.
Customized Solutions
Every project is unique, and we tailor our services to meet your specific needs.
Client-Centered Approach
We are goal-oriented. We keep you informed, provide transparency at every turn, and work with you one-on-one to help make your dreams a reality.
Industry Expertise
We have more than 25 years of experience in the mortgage business and know what construction financing requires.
Widespread Lender Network
Our connections with leading lenders help us get competitive rates and the best terms.
Customized Solutions
Every project is unique, and we tailor our services to meet your specific needs.
Client-Centered Approach
We are goal-oriented. We keep you informed, provide transparency at every turn, and work with you one-on-one to help make your dreams a reality.
What Our Clients Say
Let's Build Your Dream Home Together
At Diverse Mortgage Group, we are making your dream a reality with New Build Mortgage Services in Canada. Enjoy comprehensive expert guidance, easy financing, and the confidence in knowing you will be in a good pair of hands.
Call now to discuss your project in mortgage options. Explore and lay its foundation together:
FAQ
Frequently Asked Questions (FAQs)
What is a New Build Mortgage?
A New-Build Mortgage is a loan product designed to construct new homes. The funds are disbursed in stages according to the progression of the construction.
How does the drawing process work?
The lenders will disburse funds in stages based on the key milestones achieved in the construction process, such as foundation, framing, and finishing.
Can I use a New Build Mortgage for custom homes?
New-Build Mortgages are outstanding for customized home projects since they can be created according to your design.
What happens after construction is complete?
Once the home is completed, it converts into a standard mortgage with fixed or variable rates.
What are the qualification criteria for getting a New Build Mortgage?
To acquire this type of mortgage, you will need proof of income, a construction plan, and fulfillment of the lender’s credit and financial criteria.
