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MHABC Conference Client Financing Options

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Agenda.... Preferred Builder Program Terminology 101 Chattel Loan Insurance Program (CLIP) Construction Mortgages

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Preferred Builder Program Fast, FIRM Approvals held until your clients possession date Competitive Long Closing Interest Rate Guarantees for fixed and variable mortgages Mortgage financing for upgrades HomeProtector life and disability insurance coverage for clients during the construction phase of their home Specialized options for FTHB, investors, self-employed and non-resident and new immigrants Flexible product offerings, such as RBC Homeline Plan

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Preferred Builder Program Dedicated Mobile Mortgage Specialist on site Co-branded marketing materials with your logo and sales representative information Designated Preferred Appraisers Builder Rewards

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Terminology 101 Modular Home A modular home is a type of construction which is built in a factory as a three-dimensional module that is combined on-site to make a 1, 2, or 3 storey home. Manufactured Home Virtually complete when it leaves the factory Mobile Home A single-family dwelling made up or 1 or more re-locatable sections

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Chattel Loan Insurance Program (Clip) When the home is not affixed to land CMHC Insured Typically Mobile Homes Landlord Consent Agreements

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Construction Mortgages Up to 5 draws and options for land financing Full Appraisal Report Homes must be permanently affixed to land First advance to occur when appraiser inspects to see home is attached to foundation Advances are based on estimated cost to complete

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Construction Mortgages Interest-only payments during construction phase Builder must be registered under New Home Warranty Provincial Lien Holdback Default Insured Eligible RBC Homeline Plan Eligible

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Questions?

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Thank you Helping builders sell their homes faster & easier!