Question:

I am looking for info on obtaining a home building loan.
Where/how to apply, conditions, restrictions? Is there a bank which specializes in home building loans?

Answer:

The best advice I can give you is to talk to a mortgage broker.
Most banks will do construction financing if all their criteria are met for the loan. You may find that the bank's criteria does not fit well with what you propose to do or the time frame you propose to do it in.
A mortgage broker can guide you through the process and give you advice along the way. To properly answer your question, I would have to take a complete mortgage application from you and ask you a number of other questions to determine what financing would best suit your needs.
If you wish to call to discuss this in more detail, I can be reached at 613-721-0010, my direct line. John Lozinski

Answered By: John Lozinski

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