Construction loans in British Columbia are short-term financing options used to fund the building of a new home or major renovation project. With Syndicate Lending, funds are released in stages—called "draws"—as construction progresses. During the build, you typically make interest-only payments based on the amount disbursed. Once the home is complete, the loan is either paid off or converted into a traditional mortgage.

A construction-only loan covers the cost of building your home and is paid off in full once construction is complete. In contrast, a construction-to-permanent loan combines both the construction phase and the long-term mortgage into one loan, transitioning automatically upon completion. Syndicate Lending helps you determine which option is best for your project and connects you with lenders across British Columbia who specialize in each.

Down payments for construction mortgages in Vancouver typically range from 20% to 25%, depending on the lender and the project. At Syndicate Lending Corporation, we work with a wide network of construction lenders to help you find flexible options, even if you're building a custom home or managing a large-scale renovation.

You’ll need detailed construction plans, building permits, a signed contract with a licensed builder, cost estimates, and proof of income. Most lenders prefer a credit score of 680 or higher. Syndicate Lending can guide you through the documentation process and help assess your eligibility for the best construction mortgage rates in BC.

While a strong credit score improves your chances, it’s still possible to secure construction financing with less-than-perfect credit. Syndicate Lending works with alternative construction lenders and private options across British Columbia, offering customized solutions that may not be available through traditional banks.

Construction mortgage rates can vary depending on the lender, loan structure, and borrower profile. Rates are generally slightly higher than traditional mortgages due to the short-term nature and increased risk. Syndicate Lending helps you compare current rates from trusted lenders to ensure you secure the most competitive financing for your build.

Yes, there are government-backed programs such as CMHC-insured construction loans and BC Housing initiatives that support new builds and renovations, especially for affordable housing. Syndicate Lending can help you navigate these options and determine if you qualify for these programs.

The timeline for construction loan approval in British Columbia depends on several factors, including the size and scope of the project, your financial profile, and how complete your documentation is at the time of application. At Syndicate Lending, we work closely with you, your builder, and our network of construction lenders to ensure all requirements are met efficiently. Our team helps reduce delays by guiding you through the application and helping you meet lender expectations, making the process smoother from start to finish.

Absolutely. Renovation construction loans are available for both small upgrades and major structural changes. Syndicate Lending provides access to lenders across BC who specialize in financing renovations, helping homeowners turn their vision into reality with flexible loan options.

Funds are disbursed in multiple stages—typically at key milestones like foundation completion, framing, and final inspection. Each draw must be approved by an inspector or appraiser. Syndicate Lending ensures transparency and helps manage these stages to keep your project on track financially.

Yes, that’s exactly what we do. Syndicate Lending partners with a wide network of construction lenders in Vancouver and throughout BC. Whether you're building a new home, renovating, or developing multiple units, we match you with lenders offering competitive mortgage rates and terms tailored to your project.

Once construction is finished, your loan either converts to a permanent mortgage (if you have a construction-to-permanent loan) or is paid off through a new mortgage. Syndicate Lending assists with the transition by helping you lock in a long-term mortgage that fits your financial goals and ensures continued affordability.