Personal Construction Mortgage

A mortgage designed for consumers looking to build their own home (self or contractor built homes and ready-to-move [RTM] homes), offering convenient and affordable options for financing.

Convenience: Expand/Collapse

"You can start building your dream home sooner."
- A specific percentage of building funds are advanced based on approved inspections.

"You have money available at each phase of construction."

Affordable: Expand/Collapse

"You have affordable payment options during the construction of your home."
- Monthly interest only payments during the construction period (up to one year).

Cost Savings/Earnings: Expand/Collapse

"You are provided with an attractive rate."
- Competitive rates in the marketplace.

Flexible: Expand/Collapse

"You can adjust your repayment options to fit your needs."
- Available with a conventional or CMHC* mortgage (see our current offerings)

- Multiple repayment options available:

  • Payment frequency
  • Length and term of loan
  • Fixed or variable rate options

Peace of Mind: Expand/Collapse

"You can protect your assets and your family in light of unforeseen circumstances."
- Loan payment protection available:

  • Life
  • Disability
  • Critical Illness
  • Loss of Employment

Additional Information:

*Canada Mortgage and Housing Corporation - an option available if you do not have the minimum 20% down payment and want more affordable options. Some conditions apply.
- Blueprint appraisal and progress inspections are required (at member cost).

Who might benefit from this product/service?

For consumers who need financing to build their home.

Key Resources & Tools

Advice Videos

Home buying tips video

Home Buying Tips

Tips to help you get started with your home purchase.

Saving for a Down Payment Video

Saving for a Down Payment

3 tips to help you get closer to reaching your down payment goals.

6 Ways To Get More With Your Mortgage video

6 Ways To Get More With Your Mortgage

Important things to consider with your mortgage, which could save you future potential hassles and money.


Mortgage Application

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Simplicity Mortgage - Fixed Rate
5 year 2.340%

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