If you’ve always dreamed of building your own home, or of renovating your existing home, now may be the time to realize that dream. It has never been easier to get a renovation & construction mortgage loan, especially when you come to Tristar Groupe, your Montreal private lender.
A construction loan, also known as a builder’s loan, allows you to borrow money to build a new home. A construction loan can even help you purchase the land on which you plan to build your home on.
Generally, a construction loan is a short-term loan disbursed to you or your contractor and paid in installments as work is being completed.
Home Renovation Loans
If you want to upgrade your existing home, renovation loans work somewhat differently. You generally get the entire loan at once and live in your home while you or a contractor make the desired improvements.
Your money will be better spent if the improvements you make add additional value to your home. Some of the best improvements you can make in terms of your return on investment, include the following home improvements and construction projects:
- Roof replacement
- Kitchen remodel
- Bathroom remodel
- Exterior siding replacement
- Window replacement
- Wood deck addition
- Outdoor home extension
For all your commercial, construction or renovation loan projects, contact Tristar Groupe Financial in Montreal today.