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Builder Finance FAQ

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Builder Finance provides construction financing loans from $500,000 to $10,000,000 to assist Developers and Builders who are building single family homes, residential subdivisions, and smaller scale multi-family projects (including Heritage and Character home conversions).
Coast Capital has a team of Commercial Real Estate experts that provide financing for projects across Canada up to $50 million per project, and can syndicate even larger loans with partner institutions when needed.
Builder Finance has a focus on our primary markets, which are Metro Vancouver (including Squamish and Chilliwack), and the greater Victoria area. However, Coast Capital is now a federal credit union with an expanding market. To find out if your region/project qualifies, email us at

The maximum loan term, where warranted, is 24 months; however, on a typical project we will provide 12 – 18 months depending on the size and time needed for building permit application.

Our program is designed for experienced builders with a good track record in the market and product they are proposing to build. However,  new builders with a restricted loan-to-value and a general contract with a well-recognized third-party, builders are eligible to have their projects reviewed on a case-by-case basis.
No, custom home financing is not covered by Builder Finance but we can still help. Contact one of Coast Capital’s mobile mortgage specialist for any custom home financing needs

If you aren’t planning to sell the property once construction is complete, our team cannot provide long-term financing at this time. You will need to get pre-approved for take-out financing with our small business (for incorporated builders) or our retail lending team (if you build under your personal name) as part of the application process.

Loan Details

In almost all cases the answer is yes. A guarantee from an individual or business with meaningful net worth is an important qualifying factor in our application process.

Our setup fee is determined at the time of application, but normally 1% to 2% of the loan amount.

Our construction mortgages are fully open, so you can repay the loan in part or in full at any time without penalty.

Construction loans are advanced as work is completed on the project. Advances are usually processed within 2 business days of an inspection that verifies the work in place.

Approval and Review Process

For Builder Finance to perform an initial review of your project, and potentially structure an offer to finance, you will need to provide the following standard information:
  • The Purchase and Sale Agreement (or statement of adjustments where the land is already purchased)
  • A Detailed Budget for the project (or a typical home in the project) broken down into land, hard, soft, and contingency costs
  • Ownership Structure – An Org Chart or clear summary of the ownership for the project.
  • Current Personal Net Worth Statements (click here for the Net worth) with any supporting documentation (bank statements, BC Assessments, etc.) for all guarantors/principals of the deal
  • A Resume - a summary of the builder’s history (include addresses, budget, sale price, and project description).
  • An Appraisal of the Project and as-is value of the land.
In addition to the standard information, we may also ask for:
  • 2 years Notice to Reader Financials statements for those who build under a company name OR 2 years T1 General Tax Returns for those who build under personal names.
  • Evidence you are an HPO approved builder and registered with WCB.
  • Environmental Questionnaire (click her for template) completed to the satisfaction of Coast Capital.
  • Other information as required.
Assuming we have all the standard information, we should be able to let you know our interest/basic financing structure within 72 hours. The final credit approval won’t be available until all due diligence is completed, which typically takes two weeks. You’ll want to add another week for preparing/executing/registering all the security and pre-funding conditions.

This information is for educational purposes, is subject to change at any time, and does not represent an offer or a commitment to provide financing for your project.  Further due diligence, satisfactory to Coast Capital, must be obtained and authorization of the financing proposal through Coast Capital’s internal credit approval process must be achieved prior to Coast Capital issuing a formal facility letter.

For information about the complaints handling process, click here.

Let's chat.

Call our Commercial Real Estate team at 1.888.517.7000 Mon-Fri, 8am-5:30pm