When seeking a source for construction financing in Ontario there are several details you may want to iron out during the planning process, well before you begin shopping for a lender. In fact, even the type of lender you may want to choose and how you plan on connecting with them should be considered carefully in order to get the best possible terms, rates and cost efficiency for you and your situation.

The first thing to consider is the type of lender: will you want to go with a bank, or will you want to look into a private lender? Although banks are the first source people gravitate to when thinking about funding, private lenders might be a better choice. Banks may not offer the same advantages as a private lender when it comes to construction financing and building loans. Private lenders such as those you would find through top Canadian mortgage companies may also be able to provide a quicker approval process and less erratic draw advance dates then what you would find from a bank.

Whether leaning towards a bank or private lender it is important to ask questions. By doing a little research beforehand about the difference between construction financing and traditional mortgages you will be able to ask educated questions, and have a better understanding of the answers you get, in order to determine if you are in the right place to get the best financial products that will be the most cost-effective. When working with a mortgage or financing company make sure to ask how many lenders they have access to, and how diverse the lender pool is in their offerings. For banks and financing companies both, be sure to ask about their experience with arranging construction financing in Ontario. You can also ask if they can provide references for past clients who have secured this type of loan.

It is not uncommon for many people who are looking for construction financing to gravitate towards private lenders and as such this opens up a some creative ways to further make a construction loan more cost effective. Sometimes referrals and partnerships through a different company can lead to a more lucrative opportunity. For instance, there is an online shopping platform called Shop2Save that collaborates with some of the biggest household names in Canada to connect members to savings and cashback rewards when they arrange big-ticket products or services. As an example, members of Shop2Save who are considering buying or selling real estate can simply connect with Remax through the Shop2Save website and earn real cashback rewards dollars for using a services they likely would have used anyway without the connection.

For construction financing in Ontario Shop2Save members can connect with Dominion Lending Centres, Canada’s leading mortgage company. If you’re going to arrange a construction loan, why not get no-strings-attached cashback rewards at the same time to reinvest back into your project? It should also be noted that Shop2Save cashback reward dollars can be spent anywhere that accepts MasterCard.

In addition to getting cashback rewards for connections to real estate, construction financing and even home and automobile insurance, Shop2Save also provides the best volume discounts when shopping online, which will also earn you rewards just for shopping smarter. Membership is always free, especially since the source of shop2Save discounts comes from their extensive member base that they use to leverage wholesale buying power that is usually reserved for big box company and large retailers.

When seeking a source for construction financing in Ontario let Shop2Save help you iron out some of the details in the planning process, shop for lenders, get the best possible terms, rates, and cost efficiency for you and your situation and then reward you for doing it? Visit Shop2Save today to see how free membership can benefit your plans!