The District of Squamish and City of Vancouver have approved applications for laneway/carriage homes for a number of years. Building this type of structure can provide you income and add value to your existing property.
Three Ways To Finance Your Laneway/Carriage Home:
1) Borrow the funds as a conventional mortgage refinance based on the current value of your existing home. Receive all required funds in one advance.
2) A Home Equity Line of Credit based on the current value of your home. Borrow the funds in stages as you require them.
3) Construction Finance – Borrow against the future value of your home based on the completed value of your home and laneway/carriage home combined. This method of borrowing follows the “construction draw” process (please refer to my construction mortgage page).
For more information about your laneway/carriage home mortgage, please email me directly at: email@example.com