New Construction Mortgages in Canada
Whether you are building a custom home for your family or developing an apartment building as an investor, we specialize in construction mortgage financing with staged draws, builder coordination, and construction-to-permanent conversion. Our team manages draw schedules, arranges inspections at each milestone, and coordinates with your builder or development team to ensure funds flow on time. From single-family custom builds on land you already own, to multi-unit rental developments and large-scale apartment projects, we connect you with the right lenders and structure the financing for every stage of your project.
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Build with Confidence — Homes and Apartment Buildings
Construction mortgages are more complex than standard purchases — whether you are building a custom home or an apartment building. Draw schedules, inspections, builder payments, and conversion to permanent financing all need to be coordinated. We've done it hundreds of times for homeowners and investors alike.
Staged Draw Financing
Funds are released at each construction milestone after a satisfactory inspection — typically at foundation, framing, lockup, and completion. You only pay interest on what has been drawn, keeping carrying costs low during the build phase.
Apartment Building & Multi-Unit
Construction financing for investors building apartment buildings, multiplexes, and multi-unit rental properties. We connect you with commercial lenders who evaluate projects based on projected rental income, development pro formas, and construction budgets.
Construction-to-Permanent
One application, one closing, and one set of fees. Your construction loan automatically converts to a permanent mortgage when building is complete. We lock in terms upfront so you are protected during the build.
Interest-Only During Construction
During the build phase, you only make interest payments on funds that have been drawn — not the full loan amount. This applies to both homeowner and investor projects, keeping your carrying costs manageable throughout construction.
Builder & Project Coordination
We manage draw schedules directly with your builder, arrange independent inspections at each stage, and ensure funds flow on time. For larger multi-unit projects, we coordinate with your development team including architects, engineers, and project managers.
Pre-Construction Purchases
Financing solutions for deposit requirements on new build purchases from developers — condos, townhomes, and multi-unit investor purchases. We ensure your permanent mortgage is pre-approved and rate-held.
Planning to build?
Let's structure the right construction financing for your project.
Construction Mortgage Requirements
Construction mortgages involve more documentation and oversight than standard purchases — whether you are building a custom home or a multi-unit apartment building. Here is what lenders require and how we manage the complexity.
Requirements
- Minimum 20-25% equity for custom homes, 25-35% for multi-unit apartment building projects — land equity counts toward the requirement if you already own the lot or development site
- Detailed construction budget and project plan including a line-by-line cost breakdown for materials, labour, and subtrades — prepared by your builder or development team
- Licensed general contractor with a proven track record — for apartment buildings, lenders also evaluate the experience of the development team and project manager
- Building permits and municipal approvals must be obtained before the first draw can be released — for larger projects, site plan approval and development charges must also be addressed
- Minimum credit score of 600 for A-lender construction programs, with alternative options for lower scores at higher rates
- Proof of income sufficient to service the mortgage — for investor projects, lenders evaluate projected rental income from the completed building alongside personal financials
- Property must be located in a lender-approved area — apartment building projects require detailed market analysis demonstrating demand for the rental units
How We Help
- We connect homeowners with construction-to-permanent products and investors with commercial construction lenders experienced in multi-unit development
- Our team manages draw schedules, coordinates inspections, and ensures funds are released on time — for projects of all sizes from custom homes to apartment buildings
- We lock in permanent mortgage terms at the start of construction, protecting you from rate increases during the build period
- If you own your land or development site outright, we leverage its full appraised value as equity — potentially reducing or eliminating the need for additional cash
- For apartment building projects, we structure the takeout financing based on projected stabilized rental income so your permanent mortgage terms are optimized for cash flow
- We build a 10-15% contingency buffer into your financing structure to cover unexpected costs like material price increases, scope changes, or construction delays
- Our team reviews your builder's contract, construction budget, and development pro forma to ensure they align with lender requirements before you submit your application
Questions About Construction Mortgages
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