Unique financing available to strata corporations looking to finance large repairs, upgrades, retrofits, or maintenance projects for the strata common property. This is an alternative to mortgage financing since by law you cannot mortgage strata owned common property. The financing is set up as a loan secured by way of future strata fee revenue. This type of loan is perfect for both strata corporations and the individual owners. It brings financing stability to any project since each owner instantly qualifies. It is an alternative to a special levy where each owner has to find their own financing by way of:
-Cash: Savings or Investments-Line of Credit: Unsecured
-Home Equity Line of Credit: Secured to a Property
-Refinance: Existing First Mortgage
-First mortgage: New Traditional or Non-Traditional Mortgage
-Second mortgage: Private Financing
-Third mortgage: Private financing
If you have any questions or wish to start the process contact me by phone text or email.