fundings
fundings
Funded Amount: $7,000,000
Type: Residential & Duplex
Lender: Conventional
Location: Delta, BC
Loan-to-Value (LTV): 75%
Value: $9,400,000
10 lot servicing mortgage
The borrowers were experienced in development and servicing, but needed a broker who understood how to structure and execute the financing side of a subdivision project.
Challenges included:
The Problem
To help the client get ahead, we structured a $7,000,000 servicing facility with a conventional lender tailored to the project’s needs.
This included:
The Solution
- Coordinating directly with the City of Delta and all service providers
- Structuring the loan to align with servicing milestones and timelines
- Working alongside a city approved credit union to facilitate the required letter of credit
- Managing communication between all parties to ensure a smooth and efficient execution
With 2 lots already pre-sold, we also helped strengthen the overall file and lender confidence.
This solution allowed the client to get ahead by:
- Completing servicing ahead of schedule
- Saving on interest costs due to faster execution
- Keeping the project fully aligned with city and lender requirements
- Moving efficiently from raw land to fully serviced, higher value lots
The borrowers handled the development and we handled the financing strategy, esulting in a well-executed project with stronger margins and timing advantage.
Outcome & Key Takeaways
- Coordinating between city requirements, servicing timelines and lender expectations
- Structuring financing that aligned with municipal servicing conditions
- Working with a credit union selected by the city to provide a letter of credit
- Managing multiple stakeholders: City, lender, service providers and borrowers
Without the right structure and coordination, the project risked delays, increased costs, and inefficiencies.
Funded Amount: $7,000,000
Type: Residential & Duplex
Lender: Conventional
Location: Delta, BC
Loan-to-Value (LTV): 75%
Value: $9,400,000
10 lot servicing mortgage
The borrowers were experienced in development and servicing, but needed a broker who understood how to structure and execute the financing side of a subdivision project.
Challenges included:
The Problem
To help the client get ahead, we structured a $7,000,000 servicing facility with a conventional lender tailored to the project’s needs.
This included:
The Solution
- Coordinating directly with the City of Delta and all service providers
- Structuring the loan to align with servicing milestones and timelines
- Working alongside a city approved credit union to facilitate the required letter of credit
- Managing communication between all parties to ensure a smooth and efficient execution
This solution allowed the client to get ahead by:
With 2 lots already pre-sold, we also helped strengthen the overall file and lender confidence.
- Completing servicing ahead of schedule
- Saving on interest costs due to faster execution
- Keeping the project fully aligned with city and lender requirements
- Moving efficiently from raw land to fully serviced, higher value lots
The borrowers handled the development and we handled the financing strategy, esulting in a well-executed project with stronger margins and timing advantage.
Outcome & Key Takeaways
- Coordinating between city requirements, servicing timelines and lender expectations
- Structuring financing that aligned with municipal servicing conditions
- Working with a credit union selected by the city to provide a letter of credit
- Managing multiple stakeholders: City, lender, service providers and borrowers
Without the right structure and coordination, the project risked delays, increased costs, and inefficiencies.
