Construction Financing
Construction mortgages cater to individuals who wish to build a home from the ground up. Funds are released in phases according to construction milestones, unlike conventional mortgages.
Solutions Beyond Traditional Banks
Before You Start: Important Construction financing Considerations
Land Purchase:
The first step is securing the land where you plan to build. Lenders typically consider the value of the land as part of your mortgage application, so having the property in place is important.
Build the Right Team:
Working with licensed architects, engineers, and contractors ensures your project meets all local building codes and regulations. Many lenders require qualified professionals to be involved to reduce risk and support the approval process.
Clear Construction Plan:
When applying for financing, lenders will want to review a detailed plan that outlines your home design, construction phases, timelines, and a full cost breakdown. This helps determine how much you can borrow and improves your chances of approval.
Contingency Reserve:
It’s important to prepare for unexpected costs. Construction projects can face delays or budget changes, so setting aside a contingency fund—usually about 10–15% of the total budget—provides financial security and peace of mind.
A Path Back to Financial Stability
Why Choose CENTUM Indigo Mortgage Corp. for construction financing
Choosing CENTUM for a construction mortgage means working with experienced mortgage professionals who understand the complexities of building a home. CENTUM provides personalized guidance at every stage—from land financing to construction and final take-out mortgage—while giving you access to multiple lenders instead of just one bank. This helps you secure competitive options, flexible draw schedules, and solutions tailored to your project. With expert support, clear communication, and a structured plan, CENTUM makes the construction financing process smoother and more manageable from start to finish.