SECURE A COST EFFECTIVE FINANCING OPTION
WHAT IS DEPOSIT PROTECTION INSURANCE?
Effective January 1, 2005, The Real Estate Development Marketing Act authorized the use of Deposit Protection Insurance (DPI), which allows developers to access the deposits from the sale of the units to finance the construction of their multi-family project. In partnership with The Guarantee Company of North America (GCNA), we can offer you this type of insurance under the right circumstances.
WHAT ARE THE BENEFITS OF USING DEPOSIT PROTECTION INSURANCE?
Deposit Protection Insurance enables a developer to insure and access the deposits on a project as a low-cost source of construction financing by insuring the funds.
- GCNA can facilitate up to $50 million in deposits in a single project.
- The sooner you can access the DPI, the more money you will save on construction financing.
- DPI offers bigger savings on interest charges compared to the conventional bank loan.
- DPI commitment fees are usually less compared to the conventional bank loan.
Contact our office for more information and we can discuss how this product can be of benefit to you!