Mortgage Solutions · Construction
When you buy mainly for the land — to tear down and rebuild, or build new on an empty lot — a standard mortgage doesn't fit. A construction mortgage funds the build in stages, releasing money as the house actually rises, then converts to a normal mortgage when you move in.
You pay interest only on what's been advanced — so the cost ramps up as the build does.
▍ The draw schedule
A construction mortgage isn't handed over at closing — it's released in draws, each one after an inspection confirms the stage is built. Set your land and build numbers, then step through the build to watch the funds advance and the interest-only payment climb.
Excavation, footings, and the foundation are complete. The first draw releases after an inspection confirms the pour.
Illustrative draw percentages (15 / 25 / 25 / 35). Actual schedules vary by lender and builder; some use cost-to-complete inspections instead of fixed stages. We line up the schedule with your builder's cash-flow needs.
Send us your lot and build details and we'll map the real numbers to your builder's timeline — and line up the lenders who'll fund it.
One loan, two lives
A construction mortgage lives two lives: a short, interest-only build phase while the home goes up, then a conversion to a regular mortgage the day it's complete and you take occupancy.
When you're buying for the land
If there's no finished home to mortgage on day one — you're creating one — this is the structure built for it.
You've found the right piece of land and want to build a custom home from the ground up.
Buying an older house mainly for the lot, planning to demolish and replace it with a new build.
A second storey, a large extension, or a gut rebuild substantial enough that a regular reno loan won't cover it.
You're acting as your own general contractor — some lenders allow it with the right experience and documentation.
Working with a builder on a one-off custom home, or a small-scale spec build.
Buying a move-in-ready house? That's a standard purchase mortgage — simpler and cheaper.
Build files are coordination files
Construction lending has more moving parts than any other mortgage — builder, appraiser, lawyer, and lender all have to stay in step. That coordination is the job.
Most banks shy away from build files. We work with the A-lenders, credit unions, and private lenders who actively want them — and know which suits a custom build versus an owner-builder.
Approval hinges on what the finished home will be worth. We brief the appraiser with your plans, builder contract, and spec sheet so the value reflects the real project.
We align the lender's draw stages with your builder's cash-flow needs, so trades get paid on time and the project never stalls waiting on funds.
Each draw needs a progress inspection before funds release. We coordinate timing with the lawyer and lender so advances land when they're needed.
Before the build wraps, we arrange the conversion to a standard mortgage at the best available rate — no gap, no last-minute re-qualification.
We're a brokerage, not a bank — we compare construction programs across 30+ A-lenders, credit unions, and private lenders. On most lender-funded files our compensation comes from the lender; some specialized cases — such as private or owner-builder lending — may involve a broker fee, which we'll always disclose and explain upfront before you commit.
Free, no commitment. Tell us about the lot and the build — we'll model the draw schedule, the equity you'll need, and which lenders will fund it.
Common questions
Tell us about your situation. We'll match you to the right product and lender.
Start pre-approvalAI assistant · General information