The spring is here, summer is on the way, and it’s traditionally the time for construction projects, buying a new home or cottage, and dreaming big about the future.
With the state of the economy, it’s been a little more difficult for people to get excited, but individuals and families can still get what they want says Drew Donaldson, mortgage broker at Donaldson Capital.
Over the past few years, Drew and his team have encountered many complex financing scenarios. They draw on their expertise and experience to find solutions for their clients.
While many have been postponing building or large renovation projects due to rising construction costs, others are adamant about pushing forward. However, it’s not always easy to find the financing needed to complete high-value, luxury construction projects through traditional lending channels.
That’s where Drew and his team can be of great service.
In one recent project, for example, Drew and his team were able to secure $10M in financing to finish a few construction items on a property with an appraised value of $25M.
“It’s a complex economy out there,” says Drew. “We have a team that finds a way to keep your projects moving forward even in this uncertain economic environment.”
Construction financing is often complex, but there are other times where a simple mortgage can be difficult. That’s particularly the case when a person has non-traditional income sources, such as self-employment and investment income.
Bank errors can also cause problems. One client wanted to port their bank mortgage and do a short-term bridge loan. “In the mortgage world, this is a fairly simple request, but the bank dropped the ball,” explains Drew.
“The client contacted Jack, one of our team members, at 9 p.m. and by 10:30 the next morning we had the approval. The ironic thing was that the approval was at the same bank but a lower rate.”
These are just two of many examples where Drew and his team help clients achieve their goals. Their team is well-versed in a variety of areas, including navigating multi-million residential mortgages for high-net-worth clients, securing construction financing, and finding flexible forms of capital to help clients grow their wealth.
“The Donaldson Difference, which separates us from any other mortgage company in the industry, is encompassed and built upon by our four core strengths; key relationships with lenders, market experience in Toronto and Muskoka, our own personal experience and our devoted team.”
TEXT CHRIS OCCHIUZZI
PHOTOS SCOTT TURNBULL
