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

Can't come in for an appointment? Use our easy-to-use loan/ mortgage application 24/7 from wherever it's convenient for you.

 

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