Developer Build Loan Program

By mmuise
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:

Funding takes the form of loans.

Loan terms and fees:
1. Interest rate will be 1% below the posted 5-year average interest rate at major banks.
2. Construction financing will be fully repayable to Yukon Housing Corporation two months after an occupancy permit is issued for the units.

Deadline: Continuous Intake
Eligibility:

Applicants must:

  • be Yukon-based developers building in Yukon who cannot get construction funding from a traditional lender.
  • build a building that meets Yukon Housing Corporation modest design criteria and is 25% more efficient than the National Building Code.
  • work on a project with minimum of four units in Whitehorse or one unit in communities outside Whitehorse.
  • have the technical expertise to deliver the project on time and within budget.
Application Steps:

-

Documentation Needed:

-

Other Things to Note:

One can apply to the Developer Build Loan Program all year round. Funding eligible applications is on a 1st-come, 1st-served basis.

About the author
mmuise