Construction Loans & Mortgages

11 Feb

Private Lending: Do not Rely on Someone Else’s Appraisal!

Often private lenders will receive a brief term sheet with an email introduction from a mortgage broker or agent trying to place a mortgage deal. Included...

12 Sep

Can a lender charge a mortgage pre-payment penalty under Power of Sale proceedings or once the mortgage term has matured, regardless if it is an Open or Closed Mortgage?

Under section 17 of the Mortgages Act, and pursuant to relevant case law the answer is “Yes” the lender can. Subject to the wording in the...

23 Aug

Everyone’s a “Builder”, but what does that mean in terms of HST?

For purposes below referring to a “house” includes a condo as well. Did you know that CRA will consider you a “Builder” if:1) You are an...

21 Feb

MORTGAGES & FINANCE: Residential Construction Financing

In the residential market, construction financing is available for customers who are planning to build a new home or who want to reconstruct an existing property...