Developer Build Loan Program
No fixed amount
Loan
Description:
The Developer Build Loan Program provides low interest loans for short term construction financing to Yukon developers who are building modest housing and are not eligible for financing from traditional lenders.
Comments on Funding:
1. Construction financing will be fully repayable to Yukon Housing Corporation 2 months after an occupancy permit is issued for the units.
2. The interest rate will be 1 per cent below the posted 5-year average interest rate at major banks.
Continuous Intake
Eligibility:
Applicants must be:
1. a Yukon-based developer building in the Yukon who cannot get construction funding from a traditional lender.
2. Your building meets our modest design criteria and is 25 per cent more efficient than the National Building Code.
3. You project is a minimum of 4 units in Whitehorse or 1 unit in communities outside Whitehorse.
4. Your company has the technical expertise to deliver the project on time and within budget.
Application Steps:
Applicants must:
1. Complete the Developer Build Loan Application.
2. Submit your forms and supporting documents.
In person: 410 Jarvis Street, Whitehorse Yukon. Our hours are Monday to Friday from 8:30 am to 4:30 pm You can also apply at the Yukon Housing Corporation office in your community.
Documentation Needed:
Applicants must submit:
1. a completed application form;
2. all the required documents, as requested.
Other Things to Note:
You can apply to the Developer Build Loan Program all year round.
We fund eligible applications on a 1st-come, 1st-served basis.
About the author
Maurice
