Pre-Construction Buyers

Your pre-construction closing deserves a plan built for today's market.

You may have purchased years ago, but your financing has to work with today's appraisal, rates and qualification requirements. Leah can help you understand the gap, review potential solutions and prepare for the closing ahead.

No documents required to begin
Firm or imminent closings welcome
Review your options early, before the deadline

Start here

Start a pre-construction conversation

Share how to reach you and Leah will walk you through your closing options.

Understanding it

Why pre-construction closings need an early review

A pre-construction agreement is signed long before the keys are handed over. In between, the market can move, lenders can change their requirements, rates can shift and your own income or debt obligations can look different than they did on signing day.

The property's present appraised value may differ from the original purchase price. When an appraisal comes in lower, it can affect the mortgage amount available, the cash required to close and how you qualify. Closing deadlines leave little room to react, so the sooner the file is reviewed, the more room there is to plan.

Potential solutions may include conventional or B-lender financing, a vendor take-back mortgage (VTB) where the vendor participates, and other tailored closing strategies. Every option is subject to borrower and property eligibility, valuation, seller cooperation, legal advice and lender approval.

Common situations

A firm closing date is approaching on a pre-construction condo or home
The appraised value may be lower than the original purchase price
The cash required to close looks higher than expected
Income, debt obligations or carrying costs have changed since signing
A previous lender approval has expired or been reassessed
Considering whether the vendor may participate in a take-back arrangement

The process

What happens next

A simple path from first message to a decision you feel good about.

01
Share your closing timeline
A short form is all it takes to start — no documents needed.
02
Speak directly with Leah
You'll talk with Leah herself about the project, the closing date and where the gap may be.
03
Review the potential structures
Conventional or B-lender financing, a possible VTB where the vendor participates, or other tailored closing strategies — all subject to eligibility and approval.
04
Prepare ahead of the deadline
You move forward with a plan and enough runway to coordinate with your lawyer and the builder.

FAQs

Pre-Construction Buyers questions

Questions that come up most often for this specific situation.

What happens if the appraisal comes in below my purchase price?

Lenders generally base financing on the lower of the purchase price and the appraised value. If the appraisal is lower, the mortgage available may be smaller and the cash required to close may be larger. Reviewing this early gives you more time to consider the options that may exist for your circumstances.

Can a vendor take-back mortgage solve a shortfall?

Sometimes. A vendor take-back mortgage (VTB) is an arrangement where the vendor participates in financing part of the purchase. It is never guaranteed and is not available in every transaction — it depends on the vendor's willingness, the lender's position, your qualification and legal advice from your own lawyer.

How early should I start?

As early as you can. Pre-construction closings run on firm deadlines set by the builder, and appraisals, approvals and legal steps all take time. Even a conversation six months out can change what is realistic later.

My income or debts changed since I signed. Does that matter?

It can. Qualification is assessed at the time of closing, not at the time of signing. Changes to income, employment, credit or other obligations may affect the amount and structure available to you.

Do you handle both primary residences and investment units?

Both situations come up often in pre-construction. The intended use affects which lenders may consider the file and how the property is assessed, so it is one of the first things Leah will ask about.

Is approval guaranteed?

No. Every option is subject to borrower and property eligibility, valuation, seller cooperation, legal advice and lender approval. Leah's role is to help you understand the situation clearly and review what may be available.

FAQs

General mortgage questions

Helpful background that applies to most mortgage conversations.

Can I speak with Leah before completing a full application?

Yes. Most conversations begin with a short form and a call. You can ask questions, understand the process and decide whether you want to go further before any full application is started.

What is the difference between refinancing and a home line of credit?

Refinancing replaces your existing mortgage with a new one, often at a new amount and new terms. A home equity line of credit (HELOC) is a separate revolving facility secured against your home that you can draw on as needed. Which one makes sense depends on your goals, your existing secured balances, qualification and lender criteria.

Can refinancing help consolidate debt?

For some homeowners, consolidating higher-interest balances into mortgage financing can simplify payments. Whether it is possible, and whether it is the right decision, depends on your property value, existing balances, qualification and the lenders available for your situation.

What determines how much equity I may be able to access?

Typically your property's value, the balances already secured against it, your qualification, and the criteria of the lenders eligible for your circumstances. There is no single maximum that applies to everyone, and lenders do not all treat equity the same way.

Do you serve clients outside the GTA?

Yes. Leah works with clients across Ontario — from Richmond Hill, Vaughan, Etobicoke, Brampton and Mississauga through to Niagara and beyond.

Can Leah help if my bank was unable to offer the solution I needed?

Sometimes. A single institution reviews your file against its own criteria only. Leah can look at whether other eligible lenders may consider your situation, though any outcome depends on your circumstances, qualification and lender criteria. Nothing is guaranteed.

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