There are 2 fundamental kinds of construction loans:
• Home construction (self-build mortgage) and
• Business construction (property development finance)
- Home construction loans are only approved when construction/development is/are being done by DCANS Developments Ltd. Once construction on your house is completed, you can either refinance this construction loan into a permanent mortgage or get a new loan to pay off the construction loan. If the borrower is contractor by self, an owner-builder construction loan can be arranged.
- Business construction loans are only approved when minimum of 50% of construction materials are to be sourced from DCANS Developments Ltd.
• Low-rate loans
• Routine inspections as the home is built, or business/commercial construction in ongoing.
• Details about the home’s or business construction size, the materials used and the contractors and subcontractors that do the work.
How to apply
Kindly complete an online application form here.