As a regional non-bank lender, SD Mortgages has the flexibility to fund builds including but not limited to the following:

  • New construction, additions or renovations
  • Single family and multi-family dwellings
  • Custom builds & designer homes
  • Infill (tear down and rebuild)
  • Personal or company name (officers to guarantee)
  • Land financing for future development
  • Modular homes
  • Urban and rural locations (85% LTV urban, 75% LTV rural—higher with firm sale)
  • Second and seasonal homes
  • Construction of two or more units on one parcel prior to severance
  • Business for self or NIQ borrowers

Homeowners can market their existing home while building the new home.

Customized draw schedule to match the contract and avoid cash flow problems.

Letters of credit to support funds in suspense

For spec builds, the solicitor manages disbursements.

Loans from $250,000.00 to $1,500,000.00.

Payments can be made monthly or interest can be deducted from the advance.

Term: 6 month to 1 year, open or closed

Progress advance based on cost to complete or finished value

Up to 75% LTV initial land advance (urban) to get started (50% for rural)

Lump sum advances for delivery of modular homes and log homes.

Interest compounded monthly on net advance.

GTA only

Basic holdback applies to all draws where funds are advanced for construction purposes.

SD Mortgages’ underwriters are proficient at customizing a financing offer to make sure that your construction projects flow smoothly and with as few obstacles as possible.