Construction financing is available for builders of entry-level homes:
- Loaned at fixed rate of 4%
- Minimum 10% equity requirement
- No pre-sales required
- Minimum 75% of homes must be owner-occupied
- Units must have a target price at or below the average MLS sale price in area
The Developer/Builder will work with their local Municipality to assist in the preparation of an application specific to their project. If the application meets the initial criteria, the fund manager, Westcap Mgt. Ltd. (Westcap) will request further information about the project as outlined in the Developer/Builder Checklist.
How to Participate
- Applications must be received from a Municipality. Work with your local Municipality to prepare an application specific to your project. See the Municipality Application Form and Application Guide for more information.
- If the application meets the initial criteria, Westcap will request further information about the project. Please refer to the Developer/Builder Checklist for a list of information that will be required.
- If the project is approved, Westcap will notify the Municipality and work with the Developer/Builder to finance the project.