Construction Mortgages

If you’re planning to build your dream home or undertake a major renovation project, a construction mortgage can provide the financing you need. At Esto Mortgage, we offer construction mortgages designed to support your construction or renovation plans. This page provides an overview of construction mortgages and highlights the key features and benefits of these specialized mortgage products.

Key Features of Construction Mortgages:

Financing for New Construction or Renovations: Construction mortgages are specifically designed to fund new construction projects or major renovations. Whether you’re building a brand-new home or expanding and renovating your existing property, a construction mortgage can provide the necessary funds to complete your project.
Progress-Based Disbursements: With a construction mortgage, the funds are disbursed in stages or progress-based increments. This ensures that the money is released as each stage of the construction or renovation is completed and verified by an appraiser. This method helps you manage your expenses effectively and ensures that the funds are allocated as needed throughout the project.
Interest-Only Payments during Construction: During the construction phase, you typically only need to make interest-only payments on the funds that have been disbursed. This allows you to manage your cash flow more efficiently while your home is being built or renovated. Once the construction is complete, the mortgage will transition to the regular mortgage payments, including principal and interest.
Flexible Mortgage Terms: Construction mortgages offer flexibility in terms of the mortgage period, interest rate options, and repayment terms. Our experienced mortgage professionals can work with you to determine the best mortgage terms that align with your project timeline and financial goals. This includes exploring fixed-rate and variable-rate options, as well as determining an appropriate repayment schedule.
Professional Guidance and Support: Building or renovating a home can be a complex process, and navigating the financing aspect requires expert guidance. At Esto Mortgage, our team of mortgage professionals has extensive experience in construction mortgages. We can provide valuable advice, guide you through the application process, and ensure you have a clear understanding of the requirements and steps involved in securing a construction mortgage.
We understand that every construction project is unique, and we take a personalized approach to help you secure the right mortgage solution for your specific needs. Our goal is to support you in making your construction or renovation project a reality, with financing that suits your budget and objectives.
Contact us today to discuss your construction mortgage requirements and receive customized guidance tailored to your project. Our dedicated team is here to assist you throughout the mortgage process, from initial consultation to mortgage approval and beyond. Trust Esto Mortgage to provide the financing you need for your construction or renovation project, and let us help you bring your dream home to life.

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At Estro Mortgage, we prioritize clear and transparent communication. We understand that obtaining a mortgage involves making important financial decisions, and we are here to provide you with the information and guidance you need to make well-informed choices. We will walk you through each step of the process, ensuring you understand the terms, conditions, and implications of your mortgage.