Your Financing Options For A Laneway Home Build

What are your financing options when building a laneway home and how does payment schedule work at LaneBuilds?

Here’s a quick overview of your options:

1. Credit = Construction Mortgage
   • $3,500 fee
   • Subsidiary fee from the bank
   • Release payments as you go
2. Cash
   • Subsidize with LOC or Mortgage
3. HELOC – Home Equity Line Of Credit
   • Using capital from home you can turn this into a mortgage to play off over time

Payment Structure:

1. Signing deposit = 5%
2. Building deposit (once building starts) = 10%
   These 2 fees help cover the building costs upfront since this is top-heavy for costs.
3. Bi-weekly Payments (divided evenly) = 75%
4. Final Government-Mandated Holdback = 10%

If you still have questions feel free to contact Kevin Walker or start the process by completing our questionnaire.