Residential Construction Financing: Understanding the FundamentalsBy Scott WestlakeFebruary 13, 20230 comments#constructionfinancing #construction #homereno #building #homerenovation #buildingloan #construction Building a home can be one of the most exciting and fulfilling experiences of a person’s life. However, financing the construction process can be challenging, particularly for first-time homebuilders. In this blog post, we will discuss the fundamentals of residential construction ...Read more...
Construction Financing For End Users...By Scott WestlakeJanuary 15, 20230 comments#constructionfinancing #tarion #buildermortgge #building #construction Construction Financing: Your Guide to Building Your Dream Home Are you ready to build your dream home? One of the most important steps in the process is securing construction financing. This type of financing is different from a traditional mortgage and can seem daunting for first-time ...Read more...
Recently Funded - Private Mortgage $1M - Bridge Purchase & SaleBy Scott WestlakeMy PortfolioDecember 19, 20220 comments#privatemortage #privatelending #clientfirst #bridgefinancing We recently funded a deal for a client that required a private mortgage as a short term solution. The client was in a unique situation where they were waiting to sell their home in the spring of 2023, but needed to secure financing for a new property closing in late November. Our ...Read more...
Construction and Pre-Construction Mortgages.By Scott WestlakeAugust 29, 20220 comments#constructionmortgage #constructionfinancing #presale #presaleconsturction #selfbuild #specbuild #twt #scottwestlake Construction and Pre-Construction Mortgages. Building or renovating your own home is such an exciting time and allows you to create something tailored to you and your family! But when it comes to construction mortgages, there are a few different types of loans: new construction ...Read more...
5 Things to Consider When Building Your New Home.By Scott WestlakeApril 12, 20220 comments#constructionloan #constructionfinancing #constructionmortgage Building a new home is an exciting adventure but requires very different considerations. To help you have the best experience building a home, we have put together the 5 most important considerations. 1. it’s all in the numbers Regardless of whether you are shopping for a pre-built ...Read more...
Your quick guide to your best short-term financing options.By Scott WestlakeNovember 11, 20210 comments#shorttermfinancing #bridgeloan #privatemortgage #reversemortgage #TWT #DLC #SW Short-term financing – credit or loans that are designed to be paid off in a short period of time – can be a useful financial tool in a variety of different situations, such as: Bridge financing If you’re planning on moving and have found a new home before ...Read more...
Recently Funded - Construction Capital Available!By Scott WestlakeMy PortfolioOctober 18, 20210 comments#constructionmortgage #constructionfinancing #selfbuild #specbuild #twt #scottwestlake Recently funded acquisition financing to purchase property our clients are going to build on. In addition, construction financing is approved. Property is being torn down. It is an existing bungalow for new two story home - principal residence. Construction ...Read more...
Outside The Box - Container Homes, Tiny Homes & YurtsBy Scott WestlakeMay 7, 20210 comments#outsidethebox #alternative #financing #DLC #SW #TWT Outside The Box. For most Canadians, a home looks like a few different things. It is either a single-family dwelling, a townhome, condominium or a high-rise. But Daniel Croft, Vice President of Giant Container Services, is looking to change that! In the quest to find less expensive ...Read more...
Recently Funded - Property Acquistion + Construction Capital For Multiple TriplexesBy Scott WestlakeMy PortfolioApril 23, 20210 comments#constructionmortgage #constructionfinancing #mortgagebroker #mortgagebrokerage #twt #SW TWT Recently funded a mortgage to acquire a property and additional approved the construction capital for multiple triplexes. 70% Loan To Value on the acquisition of an existing property that will be demolished. Construction capital based on "as if" value and ...Read more...
$2M Inter Alia Mortgage - Cottage Land AcquisitionBy Scott WestlakeMy PortfolioApril 20, 20210 comments#land #landfinancing #acquistionfinancing #constructionmortgage #SW #TWT #scottwestlake TWT recently closed on a $2M Inter Alia Mortgage facility in Muskoka in under 1 week. Our client approached us to purchase land and required 100% financing. Land typically finances around 50-65% loan to value. We cross collateralized another asset to secure the $2M lending ...Read more...
Residential Construction Financing - Programs Available & How To ApplyBy Scott WestlakeJanuary 20, 20210 comments#constructionmortgage #constructionfinancing #selfbuild #specbuild #twt #scottwestlake Construction Mortgage Programs Available Bank Mortgage -Bank mortgages are available for clients looking to build their principal residence. -You need to be able to debt service the mortgage -You will have a fixed draw schedule -Depending on the size and scope of the ...Read more...
Mortgage Solution For Vacant Residential Development SiteBy Scott WestlakeJune 23, 20200 comments#interaliamortgage #mortgagelending #mortgagebroker #landacquisition #constructionfinancing #twt #scottwestlake We recently funded a mortgage for some amazing clients that needed a creative solution. $1,890,000 1st Mortgage inter-alia 53% LTV Permanent Resident with foreign income and assets 7.35% Interest Rate 1% Set up fee Interest Only and open with 3 month interest Corporate ...Read more...
Top Brokers!By Scott WestlakeMarch 7, 20200 comments#mortgagebroker #mortagebrokeraward #topbroker #oakvillebroker #constructionfinancing #privatelending Thanks for the award DLC! 2019 was a fun year getting back into brokering. A year back I wasn't sure I was going to continue brokering. Lots of opportunities have been thrown at me as an active Entrepreneur and I continually hit crossroads. I ...Read more...
Construction Mortgage OakvilleBy Scott WestlakeAugust 14, 20190 comments#constructionfinancing #oakvillebroker #gtabuild #muskokabuild #constructionmortgage #twt #thewestlaketeam #scottwestlake Construction financing is probably our teams favourite lending solution and mortgage products to place and one our team handles very well! Although we are based out of Oakville and do a lot of construction financing and construction mortgages in Oakville we do a lot of construction ...Read more...
Recent Mortgage - Construction Financing Cottage Country - $2,475,000By Scott WestlakeJune 17, 20190 comments#constructionfinancing #cottagemortgage #oakvillemortgagebroker #gtamortgage #twt #thewestlaketeam #muskokabuild #muskoka We had the pleasure of supporting repeat clients of ours financing another cottage build in Cottage Country. We provided both land acquisition financing to purchase the property as well as the construction financing for the cottage build out. Backstory: Clients ...Read more...
Construction Financing Oakville & GTABy Scott WestlakeFebruary 26, 20190 comments#constructionfinancing #constructionfinancingoakville #twt #thewestlaketeam #scottwestlake #oakvillemortgagebroker #constructionmortgage There are two types of homes we get a lot of inquires about financing when it comes to construction. Building a home to live in as your principal residence and building a home to sell for investment purposes. When building a home to live in we have numerous lenders that ...Read more...
How To Finance Luxury Real EstateBy Scott WestlakeFebruary 7, 20190 comments#luxuryrealestate #financingluxuryrealestate #jumbomortgage #largemortgageoakville #luxuryfinancing #twt #thewestlaketeam #scottwestlake #oakvillemortgagebroker #bestoakvillemortgagebroker When Financing Luxury Real Estate its important to work with a team that has experience working similar files, especially if the mortgage amount is getting North of $1mil. We get a lot of calls from Private Bankers, Wealth Managers, Top Performing Realtors, Lawyers and even ...Read more...
Q & N with Scott Westlake on MortgagesBy Scott WestlakeFebruary 6, 20191 comments#mortgageadvise #scottwestlake #twt #thewestlaketeam #bestoakvillemortgagebroker #torontomortgagebroker #oakvillemortgage #burlingtonmortgage #bestmortgagebroker #luxuryrealestate #luxuryfinancing 1. How do I get the best rate 2. How long does it take to get pre-approved 3. What documents are needed for a mortgage 4. Do you like brokering better than being a banker 5. ...Answer1. Just ask. We constantly are finding the best rates for our clients. I just like to emphasize the importance in finding the best rates for YOU. We have a free mortgage app that publishes ...Read more...
Private Mortgage Lenders Oakville, Toronto & GTABy Scott WestlakeDecember 9, 20180 comments#privatemortgage #privateloan #mortgage #lenders #gtaloans #torontoprivatemortgage #thewestlaketeam #scottwestlake #privatefinancing #constructionmortgage #oakvilleprivatemortgage Private Mortgage Lenders in the GTA Private Lending has become a popular topic but hopefully not for the wrong reasons. Private lending can be a lucrative investment strategy and a very necessary lending option if presented properly to all parties. Most private ...Read more...