MWB's ongoing listing of construction lenders includes lenders for commercial and residential construction projects. Construction loans typically cover the building or renovation of a structure only, unless otherwise noted. Such loans may run for about three years or less. Construction funds are usually high cost-typically 12% interest or more.
Construction lenders are often more eager to provide a loan if the prospective borrower already owns the land on which the construction will be done. Interim financing may be useful in buying the land and then getting the desired construction financing.
MAJESTIC MORTGAGE
825 NE Multnomah, Suite 1140
Portland, OR 97232
Tel: 503-709-1731
Fax: 503-296-2342
E-mail: tristahendren@aol.com
Web site: http://vwvw.LoansByTrista.com
Majestic Mortgage provides commercial, residential and construction loans. The following property types are eligible: retail, office, mixed-use properties; industrial or warehouse properties; single-family converted to office/retail use; single-family with commercial zoning; multi-family; mobile home parks; churches, mosques or synagogues; restaurants, hotels and motels; single purpose properties (golf courses, athletic facilities, theatres, healthcare, manufacturing, storage, etc.); and rehab loans. Rates as low at 6.95%; 30-year fixed.
Application Information: Available from the company by request and from the e-mail address:
tristahendren@aol.com
MCAP MORTGAGE CORPORATION
1550 Metcalf Street, Suite 1510
Montreal, Quebec CANADA H3A 1X6
Tel: 514-282-0811 or 800-363-1655
Fax: 514-849-9264
E-mail: info@mcap.com
Web site: http://www.mcap.com
MCAP is Canada's largest independent mortgage company, serving borrowers and investors in the residential, commercial and construction markets. Provides a full spectrum of mortgage products. Types of financing include construction loans, commercial mortgages, residential mortgages, mortgage trading, and mortgage outsourcing.
Application Information: Available from the company by request and from the Web site:
http://www.mcap.com/contact.html
MERRILL LYNCH CANADA INC
200 King Street West, 8th Floor
Toronto, Ontario CANADA 5H 3W3
Tel: 800-929-9931 or 416-586-6600
Fax: 416-586-6493
Web site: http://www.canada.ml.com
MERRILL LYNCH (U.S.)
World Financial Centre
New York, NY 10001
Tel: 212-393-9065
E-mail: http://www.ml.com/contact_ml/contact_ml.htm
Web site: http://www.ml.com
Merrill Lynch Global Markets and Investment Banking Group lends worldwide. For details specific to Merrill Lynch real estate financing in the United States, please contact the company's U.S. headquarters at the address above.
Merrill Lynch Mortgage Lending services the commercial mortgage market in Canada and the U.S. with competitive fixed and floating rate financing. Additional office locations in Canada include Montreal and Vancouver.
Merrill Lynch Canada has a commercial mortgage lending program called the Conduit Program which services the Canadian real estate market. The Conduit Program is designed to provide both recourse and non-recourse loans, generally lending a higher percentage of value, with no percentage of value while offering longer term maturities and amortization periods. The Merrill Lynch Conduit Program serves all primary and secondary markets in all 10 Canadian provinces.
Property types include anchored and unanchored retail, hospitality, office, multifamily, retirement home, mobile home park, industrial, and self-storage.
The company states that it will arrange financing from $2 million to $50 million and lend a higher percentage of the value of the property while offering longer-term maturities and amortization periods on a non-recourse or recourse basis.
Application Information: Available from the company by request and from the Web site:
http://askmerrill.ml.com/fa_front/0,2280,,00.html
MONTROSE MORTGAGE CORPORATION LTD
1809 BarringtonSt
Halifax, Nova Scotia CANADA B3J 3K8
Tel: 902-420-0500
Fax: 902-422-4363
E-mail: lcarr@montrosemortgage.com
Web site: http://www.montrosemortgage.com
Montrose Mortgage is a full-service Canadian mortgage banking firm that originates, underwrites, structures, and administers institutional-quality mortgage investments on behalf of Canadian and U.S. Life Companies, Pension Funds, Chartered Banks, CMBS (securitized loan) issuers and Trust companies, as well as private clients.
Montrose originates and services all forms and types of commercial and multifamily loans through its regional office network. Montrose currently administers a mortgage portfolio of $1.5 billion and originates another $1 billion of new loans annually. Financing includes multifamily, conventional and CMHC term and construction loans, mezzanine loans, 2nd mortgages, participating loans as well as portfolio financing and the purchase and sale of existing debt.
Montrose also provides commercial loan servicing for CMBS portfolios, private label servicing and outsourcing. Investor lenders can receive current and historical portfolio, loan and collateral information, including annual reviews and property operating statistics.
Application Information: Available from the company by request and from the Web site:
http://www.montrosemortgage.com/contact/contact1.htm
MORTGAGE CAPITAL FINANCIAL
2852 Willamette St #258
Eugene, OR 97405
Tel: 212-631-4272
Fax: 212-208-3069
E-mail: milford-1@worldnet.att.net
Web site: http://www.mortgagecapitalusa.com
Mortgage Capital Financial is a mortgage loan brokerage offering financing for commercial construction and other purposes. Loans available nationwide in the United States. Loan amounts from $3,000,000 to $250,000,000. All property types considered; past focus has been on hotels, resorts, condominium developments.
* Loan to cost: up to 90% of the project can be financed, in certain cases
* up to 100% of the project can be financed.
* Loan To Value: up to 90% of future stabilized value.
* Terms: up to 5 years with 20 year amortization schedule.
* Fees: Vary based on loan type.
* Collateral: first lien on assets financed.
* Processing Time: generally within 60 days after all documents are received.
Application Information: Available from the company by request and from the Web site:
http://www.mortgagecapitalusa,com/commericalloanforms.htm
NEW CENTURY MORTGAGE
340 Commerce
Irvine CA 92602
Tel: 800-995-0564 or 405-848-2209 (OK office)
Fax: 405-848-5218
Web site: http://www.newcenturynnortgage.com
New Century Mortgage is a direct lender specializing in hard to fund loans, fast approval, fast cash pay out, low competitive rates, and less than perfect credit. Operates LoanApp Lending Network, a network of hundreds of competing lenders for loan applicants with fair to perfect credit. New Century's Web site includes a Loan Resource Center: mortgage calculators, rates from over 200 lenders, Daily Market Update Question and Answer Library, loan process overview and online applications. More than 65 offices nationwide.
Application Information: Available from the company by request and from the Web site:
https: //www.newcenturymortgage.com/apply/index.asp
ONE CAPITAL ADVISORS
733 North State Street
Jackson, MI 39202
Tel: 601-709-2105 or 800-838-1786
Fax: 601-709-2905
E-mail: info@onecapitaladvisors.com
Web site: http://www.onecapitaladvisors.com
One Capital Advisors is a financial services company specializing in serving the capital needs of churches and faith-based organizations. Provides financing for land acquisition, construction and long-term mortgage loans for churches.
The company has strategic alliances with religious organization lenders, foundations and institutional lenders and investors serving the Christian community. It participates in loans with these organizations and serves as advisor and consultant. Many of the organizations are investors in Foundation Capital Resources Inc., a REIT managed by Capital Advisors. The REIT is "the country's leading church REIT mortgage lender," states the company.
Application Information: Available from the company by request and from the Web site:
http://www.onecapitaladvisors.com/pre-qualifying.htm
ONTARIO MORTGAGE CENTRE LTD
418 Wharncliffe Road South
London, Ontario CANADA N6J 2MS
Tel: 519 432-7170 or 877 432-7170
E-mail: info@ontariomortgagecentre.com
Web site: http://www.ontariomortgagecentre.com
Ontario Mortgage Centre LTD is a Canadian mortgage brokerage. Operates a Web-based mortgage application and bidding gateway called Great-Mortgages.com. The company provides 1st and 2nd mortgages, pre-approvals, refinance, renewals/transfers - no cost, purchases, up to 95% financing, equity take out/refinancing, new construction, condo, apartment buildings, investment property, home improvement, first-time home buyer program, and flexible repayment program.
Application Information: Available from the e-mail address:
info@ontariomortgagecentre.com
PACIFICA SOUTH BANCORP
CONSTRUCTION LENDING
2210 E. Vista Way, Suite 1
Vista, CA 92084
Tel: 760-806-1746
Fax: 760-806-1750
E-mail: sales@myconstructionloan.com
Web site: http://www.myconstructionloan.com
