Real Estate Lending

 

CareVest Capital Inc. has been providing customized lending services to the Canadian real estate industry for over 20 years.

More info

Real Estate Lending

 

CareVest Capital Inc. has been providing customized lending services to the Canadian real estate industry for over 20 years.

More info

Real Estate Lending

 

CareVest Capital Inc. has been providing customized lending services to the Canadian real estate industry for over 20 years.

More info

Real Estate Lending

 

CareVest Capital Inc. has been providing customized lending services to the Canadian real estate industry for over 20 years.

More info

Real Estate Lending

 

CareVest Capital Inc. has been providing customized lending services to the Canadian real estate industry for over 20 years.

More info

Real Estate Lending

 

CareVest Capital Inc. has been providing customized lending services to the Canadian real estate industry for over 20 years.

More info

Real Estate Lending

 

CareVest Capital Inc. has been providing customized lending services to the Canadian real estate industry for over 20 years.

More info

Real Estate Lending

 

CareVest Capital Inc. has been providing customized lending services to the Canadian real estate industry for over 20 years.

More info
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Lending

Services Offered

CareVest® acts as a "mortgage banker" by directly funding millions of dollars annually to real estate owners, builders and developers in British Columbia and Alberta. CareVest originates, underwrites, adjudicates and administers all of its own investment opportunities.

 

Financing Options with CareVest Capital Inc.


Types of Projects

By using its private banking funds, CareVest can create a complete financing package to get your real estate project off the ground. Typical project financings include:

  • Land and building acquisition projects
  • Land servicing projects
  • Single family construction projects
  • Multi-family construction projects
  • Commercial, industrial and retail construction projects
  • Condominium inventory loans
  • Term loans on income producing commercial and retail properties
  • Acquisition, refinancing packages and equity take-out facilities

Types of Financing:

  • First mortgages
  • Second mortgages

Recent and Prior Projects

16 Townhouse Units
Construction
Okanagan Valley, BC
First Mortgage
$4,866,000
Land
Assembly
South Surrey, BC
First Mortgage
$8,750,000
6 Duplex Units
Construction
Fort Saskatchewan, AB
First Mortgage
$1,275,000
Land
Assembly
South Surrey, BC
First Mortgage
$5,961,000
Land
Loan
Langley, BC
First Mortgage
$2,590,000
Land
Loan
Langley, BC
First Mortgage
$5,120,000
Land
Assembly
Langley, BC
First Mortgage
$8,025,000
Land
Assembly
South Surrey, BC
First Mortgage
$2,900,000
104 Lot
Site Servicing
South Surrey, BC
Second Mortgage
$5,174,000
4 Duplex Units
Construction
Fort Saskatchewan, BC
First Mortgage
$870,000
Land
Assembly
North Surrey, BC
Second Mortgage
$1,019,0000
Single Family
Build-Out
Vancouver Island, BC
 First Mortgage
 $8,000,000
Land
Loan
South Surrey, BC
First Mortgage
$550,000
 Light Industrial
Construction
Edmonton, AB
First Mortgage
$22,000,000
 Single Family Reno
and Resale
Vancouver, BC
First Mortgage
$1,450,000
Land
Acquisition
South Surrey, BC
First Mortgage 
$11,200,000
 Single Family Home
Build-out
Okanagan Valley, BC
First Mortgage
$4,680,000
16 Lot Residential
Subdivision
Victoria, BC
  First Mortgage
$2,100,000
Strata Duplex
Construction
Whistler, BC
First Mortgage
$1,150,000 
 35 Unit Condo
Construction
Surrey, BC
First Mortgage
$6,350,000

Services Provided

The Lending Process

Our in-house lenders work with borrowers throughout the lending process.

  • Origination phase
  • Underwriting phase
  • Credit approval phase
  • Contracting phase
  • Funding and administration phase

The origination phase includes the participation of our in-house lenders in local markets to better understand local market trends and changes in local market economics. This hands-on approach and knowledge of local market participants is a cornerstone in our evaluating lending opportunities brought to us for investment. Our initial assessment includes, but is not limited to, a thorough understanding of an opportunity’s “fit” in the market place, its sponsorship, and financial realities.

Based on initial assessments, our in-house lenders may request additional background and overview information to assist them in the development of a letter of intent which outlines the terms and conditions upon which the lender is prepared to consider financing for the project under review. Our letter of intent outlines:

  • Proposed loan terms
  • Proposed structure of the loan
  • Security granted
  • Borrower release for credit bureau and other review items, and
  • Additional information as required – project dependent

The underwriting phase involves our in-house lenders reviewing all provided information and other sourced data, and the preparation and presentation of a credit submission to the lender’s credit committee. Credit submissions typically include discussions on the project, its market fit, project budget, sales and / or leasing projections, construction specifications, floor plans, zoning status, location details, environmental reports, geotechnical investigation, building condition analysis, as well as:

  • Borrower and guarantor(s) – financial statements, experience, prior loan history, personal financial information, credit bureau reports
  • Third party market reports – appraisal, realtor interviews, physical inspection comments, competing project analysis, demographics, market dynamics
  • Lending terms and conditions
  • Security to be granted, and
  • Exit strategy – exploration of all potential sources of repayment

The credit approval phase includes, but is not limited to, a detailed discussion and review of the data points included in the credit submission.

The contracting phase involves the borrower and guarantor(s) acceptance of a commitment letter generated by the lender after credit submissions have been reviewed and approved by the lender’s credit committee.

The funding and administration phase is managed by the lender’s mortgage services group and involves the review and satisfaction of all conditions precedent to funding and registration of security granted in the commitment letter.