Client Comments
Thank you so very much for putting so much effort and time for helping us.



We were so happy that you were able to provide us with construction financing. The draw amounts work fine with our builder and we plan to refer anyone building a house. Thanks again.



Hi Joe

Just wanted to pass on our thanks again for all your help with securing our mortgage.

In hindsight, we would have to say that the entire process of buying for the first time went really well and we managed to avoid a lot of the headache and inconvenience that others seem to come across.

Certainly in regard to arranging our mortgage, things could not have been easier for us and we have you to thank for that.

Your patience and attention to detail was greatly appreciated.

All the best,

. Aghazzarian & L. Marino


Truly Professional

Joe helped us out with our financing and all the questions we asked. The rates and service was excellent and he even came to our house to sign all the papers.

We have recommend him to our co-workers, friends and family.


Mortgage Needed In a Hurry!

We needed to arrange something quickly and Joe Walsh was able to provide us with a commitment on the same day;

I would definitely recommend Joe.

A Satisfied Customer!


We supplied Joe Walsh with all of the pertinent information and we were able to sit back and relax while Joe took care of everything.

He examined all of the possibilities and came up with one that best suited our needs.

Joe took all of the shopping and confusion out of the experience and made it simple for us.

We have used Joe several times in the past and will continue to do so in the future.

He is knowledgeable, professional, there to service quickly & promptly without the stress that normally comes along with this sort of decision

“Here’s How To Quickly Secure The Condo Inventory Financing You Need To Save Your Project’s Cash Flow”

There are a few situations where a development project may require a condo inventory mortgage.

Condo inventory is defined as residential or commercial units where all or most of the construction has been completed and not yet sold.

This is similar to any type of manufactured inventory where you may have a combination of work in process and finished goods.

With condo inventory financing, most of the inventory would be in the finished goods classification.

One of the challenges with these types of development projects is that condo status cannot be obtained until the end of the project when the units are completed.

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So in the beginning, the development project is characterized as  townhouse development for the purposes of construction financing.

This has a significant impact on the amount of construction financing that can be secured due to the projected completion value of a townhouse versus condos.

As the project nears completion, more capital may need to be required under one of the following three situations:

  • when construction is completed but condo registration is not
  • when construction is not yet completed
  • where construction and registration are completed, but not all condos have been sold.

In the first scenario where construction has been completed, the borrower may require additional financing to cover the carrying costs of the project until condo registration is complete and units can be sold.  Because of the level of completion, there may be the opportunity to refinance the construction loan and achieve a higher level of leverage on the property, allowing a capital injection to be made into the cash flow.

Under this scenario, the borrower may also be required to pay out the construction lender prior to registration and a condo inventory loan would allow this to take place without negatively impacting the project.

In the second scenario, the borrower is once again seeking incremental capital to complete the project and would look to a condo inventory mortgage to increase the level of debt financing against the project.

In the third scenario, the condo sales process is not expected to be completed in less than 6 months, so to reduce the higher carrying costs associated with construction loans, the outstanding project debt is refinanced into a condo inventory mortgage.

If you have a condo development that requires additional financing, I would suggest that you give me a call so that  I can quickly assess your situation and provide you with your condo inventory mortgage options.

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