Knowledge centre
Base the financing on a supported as-is and as-improved appraisal, not the construction budget alone. Renovation and construction financing depends on today’s value, supported completed value, permits, contractor budget, inspections, borrower qualification and the lender’s draw rules. Rajiv compares the existing lender, A and alternative programs, and an MIC or private bridge only when the cost and exit fit the project.
Obtain municipal planning and servicing confirmation before relying on the future suite value or rent in a mortgage plan. Renovation and construction financing depends on today’s value, supported completed value, permits, contractor budget, inspections, borrower qualification and the lender’s draw rules. Rajiv compares the existing lender, A and alternative programs, and an MIC or private bridge only when the cost and exit fit the project.
Confirm municipal feasibility and financing before construction, and do not rely on projected rent until the selected lender confirms how it will be used. Renovation and construction financing depends on today’s value, supported completed value, permits, contractor budget, inspections, borrower qualification and the lender’s draw rules. Rajiv compares the existing lender, A and alternative programs, and an MIC or private bridge only when the cost and exit fit the project.
Choose the borrowing method around when the money is needed, how quickly it will be repaid and the cost of changing the current mortgage. Renovation and construction financing depends on today’s value, supported completed value, permits, contractor budget, inspections, borrower qualification and the lender’s draw rules. Rajiv compares the existing lender, A and alternative programs, and an MIC or private bridge only when the cost and exit fit the project.
Re-scope the project, verify the remaining budget and preserve a contingency before increasing secured debt. Renovation and construction financing depends on today’s value, supported completed value, permits, contractor budget, inspections, borrower qualification and the lender’s draw rules. Rajiv compares the existing lender, A and alternative programs, and an MIC or private bridge only when the cost and exit fit the project.
Measure the current value and exact cost to complete before borrowing more; sunk renovation costs do not guarantee matching equity. Renovation and construction financing depends on today’s value, supported completed value, permits, contractor budget, inspections, borrower qualification and the lender’s draw rules. Rajiv compares the existing lender, A and alternative programs, and an MIC or private bridge only when the cost and exit fit the project.
Match the lender’s draw conditions to the contractor payment schedule and keep a separate cash contingency for timing gaps. Renovation and construction financing depends on today’s value, supported completed value, permits, contractor budget, inspections, borrower qualification and the lender’s draw rules. Rajiv compares the existing lender, A and alternative programs, and an MIC or private bridge only when the cost and exit fit the project.
Confirm the program, eligible work, appraisal method, completion deadline and source of upfront renovation money before removing financing conditions. Renovation and construction financing depends on today’s value, supported completed value, permits, contractor budget, inspections, borrower qualification and the lender’s draw rules. Rajiv compares the existing lender, A and alternative programs, and an MIC or private bridge only when the cost and exit fit the project.
Act before another deadline or missed payment. The client may want to keep the home at any cost, while the numbers show that a high-cost refinance only postpones a sale. Another client may have a temporary setback and enough equity and income recovery to keep the property responsibly. Contact the existing lender, obtain the exact arrears or payout, and get legal advice immediately if a formal enforcement document has arrived. Rajiv can then compare reinstatement, lender relief, A or alternative refinancing, an MIC or private bridge, and a controlled sale.
Act before another deadline or missed payment. Many clients wait until the account is already behind because they hope next month will improve. Applying earlier can preserve more lender choices, but refinancing is useful only if it fixes the monthly budget rather than moving debt around. Contact the existing lender, obtain the exact arrears or payout, and get legal advice immediately if a formal enforcement document has arrived. Rajiv can then compare reinstatement, lender relief, A or alternative refinancing, an MIC or private bridge, and a controlled sale.