Finance
Finance With Us
EcoChalet is pleased to offer our clients financing options for their luxury prefab home.
Clients are required to own the land with home, land or possess an offer to purchase land. To determine the value of the property an appraisal is conducted to verify the accurate value. Lending can be from 60% up to 80% LTV (Loan to Value) based on eligibility.
EcoChalet is pleased to present Green Lending Corp to our buyers, with in depth experience working with the A lenders (eg. CIBC, TD, B lenders, eg. Equitable Bank, First National, and C lenders: private funding.)
Financing is a 2 step lend process:
Step One
Lender offers construction loan based on appraisal value of property. Lender releases funds in advances / installments: (Sample: a) % at project start, b) % installation of plumbing / electrical heating / cooling, c) % upon completion of home, d) % thorough final inspection and builder registered home with Tarion.) Throughout the construction phase, the loan is typically an interest-only payment (rates vary depending on the lender.
Step Two
Upon the home being completed and post final inspection, the construction loan may be converted into a conventional mortgage.
Imagine a small detached approved home built within a few weeks, can be rented for thousands of dollars a month or a guest house.
We’re Just a Message Away
Contact us if you are interested in purchasing an EcoChalet