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a house under construction

Construction mortgage

Mortgages designed for homes under construction

A construction mortgage advances you the full amount of the mortgage, in stages, throughout the construction (or major renovations) of your home. You can also get a construction mortgage that acts as a conventional mortgage with additional funds for minor improvements.


Rates and terms for construction mortgages

The type of mortgage you get, as well as your rate and term, will depend on many things. The type of property you’re building, the amount of construction required, how long construction will take - we’ll consider all of that. Come talk to us and we can help figure out exactly what you need.

Construction mortgages: New build and self-build


If you are building a new home from the ground up, or doing major renovations (either through a professional builder or by yourself), a construction mortgage is your best option.

construction worker hammering wood to build a roof

Purchase plus improvement mortgage


If you need a mortgage to buy a home, plus additional funds for minor home improvements, a purchase plus improvement mortgage is your best option.

man doing home improvements using a level while dog watches

Be mortgage free sooner

We call it 20/20 prepayment. Pay off up to 20% more of your mortgage each year through a combination of prepaying more of your original principal balance and increasing your original mortgage payment.

Looking for something else?


Fixed rate mortgages

Lock in a great rate and enjoy interest and payments that stay the same even if the market shifts.

Variable rate mortgages

With a rate that goes up or down depending on the market, you could save on interest.

High ratio mortgages

Buy with less than 20% down to get into the market faster. Great for first-time buyers.