Build Your Dream Home with a Construction Mortgage
Quick answer
Quick answer (Canada): A construction mortgage funds your home build in stages called “draws.” Lenders release funds after inspections confirm progress. Approval depends on credit, income, plans, cost estimates, and land value. You pay interest only on the amount advanced until completion, then convert to a standard mortgage.
See: Construction Mortgage Calculator · Pre-Approval Guide · Mortgage Product Comparison
Learn more from the Canada Mortgage and Housing Corporation (CMHC) on insured construction financing.
Finance your build with a structured plan that funds each stage. At Genesis Group, we connect you with 100+ lenders so your draw schedule, inspection process, and rates all align with your project timeline.
Common Construction Mortgage Challenges — and Our Solutions
- Delays in draws: We coordinate inspections so lender funds release on time.
- Budget overruns: We size contingencies into your approval to reduce stress.
- Complex lender rules: We match your file to programs that fit owner-builds, custom homes, or builder contracts.
- Carrying interest costs: You pay interest only on funds advanced, not the full loan from day one.
- Appraisal confusion: We align appraisers, builders, and lenders to support your as-completed value.
Why Choose Genesis Group for Your Construction Mortgage?
- Access to 65+ lenders — banks, credit unions, and private draw lenders.
- Expert draw schedule planning so trades are paid without disruption.
- Clear guidance on CMHC/insurer eligibility for insured builds.
- Competitive pricing aligned with project risk and timelines.
- Concierge support from pre-approval through final advance.
5 Year - Fixed Term from
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No cost, no obligation—just your best rate in minutes.
At Genesis, we’re dedicated to securing the lowest rate possible for you. Your personalized rate depends on factors like credit score and home equity, in line with Canadian regulations. Get your tailored details quickly—with zero cost, zero obligation, and total peace of mind.
How the Construction Mortgage Process Works
- Pre-Approval: We confirm budget, plans, and lender match.
- Initial Advance: Funds land purchase or first stage build costs.
- Progress Draws: Released at key milestones after inspection.
- Conversion: Loan converts to a standard mortgage once the build is complete.
- Ongoing Support: Our team guides you through paperwork, inspections, and lawyer coordination.
Discover the Key Benefits of Choosing Your Construction Mortgagewith Genesis Group.
⭐⭐⭐⭐⭐ Experience Guaranteed
As a first-time homebuyer, navigating the mortgage process can be incredibly daunting, but The Genesis Group made it not only manageable but truly rewarding. I had the distinct pleasure of... read more
Rohan Spence
05/13/2024Was a great experience working with Kirk and his team. They not only helped me refinance my mortgage on my house, they also assisted me in a commercial business acquisition.... read more
Sean P.
02/21/2024My partner and I have been in our first home for over a month now and we cannot thank Kirk and The Genesis Team enough! Kirk was patient, professional, supportive,... read more
stephanie B
01/13/2023Had a great experience dealing with Brittney. Fantastic communication and really worked for me and my needs. Will never go anywhere else for my financial needs
Mark Winter
11/13/2024I had a great experience with The Genesis Group. The process was smooth, with clear communication and competitive rates. Their team was responsive and helpful throughout. Highly recommend!
Breanna Bacik
09/13/2024If getting a mortgage was an Olympic sport, these guys would take gold—blindfolded, on a unicycle, while juggling flaming swords. They made the process so smooth, I was half convinced... read more
Samantha L
09/13/2024From the very first meeting to the joyous moment of receiving my keys, The Genesis Group, under the astute leadership of Kirk Bryan, has been nothing short of spectacular in... read more
Rohan Germain
01/13/2024The Genesis Group exceeded my expectations! Purchasing an investment can be a scary process especially during this unprecedented time. I had the pleasure of working with Kirk and his assistant... read more
S T
01/13/2023My husband and I had used Kirk and his team upon closing a deal on our home. We couldn’t be more happy with everything Kirk and Brittney have done for... read more
Laura Vescio
11/13/2024
Gain access to our vast network of 100+ lenders offering tailored residential mortgages to suit your financial needs.
Real results for Canadian home builds
Custom build with progress draws
5-draw schedule aligned to inspections kept trades paid and timeline on track.
Read case studyTownhome site, servicing to vertical
Servicing finance rolled into vertical construction with milestone draws.
Read case studyEntitlement bridge to build
Short-term bridge carried approvals, then converted to construction funding.
Read case studyFrequently Asked Questions
How do construction mortgage draws work in Canada?
Funds are advanced in stages after inspections confirm progress. Common draw points include foundation, lock-up, drywall, and completion. You pay interest only on the amount advanced. We coordinate the appraiser, lender, and lawyer so each draw releases on time.
What do I need to qualify for a construction mortgage?
Lenders review income, credit, down payment, land value, fixed-price build contract or budget, plans and specs, permits, and a draw schedule. We package everything once and make lenders compete. Start with the Pre-Approval Guide.
Owner-build vs. builder contract — what’s the difference?
Builder contracts with fixed pricing are the simplest to approve. Owner-builds can work, but expect tighter budgets, contingency requirements, and more documentation. We’ll match your plan to lenders that support your path.
How is interest calculated during the build?
During construction you pay interest-only on funds advanced, not the full approval amount. When the home is complete, the loan converts to a standard mortgage with your chosen term and amortization. Compare options with the Construction Mortgage Calculator.
How much down payment do I need for a construction mortgage?
It depends on lender type and whether the loan is insured. Equity can come from land value plus cash. We confirm minimums for your scenario and show insured vs. conventional paths and total cost.
What documents are needed for each draw release?
Typically an inspector or appraiser’s progress report, updated cost-to-complete, proof of insurance, and any lien waivers the lender requires. We provide a checklist and book inspections so timelines stay tight.
Can I lock my rate before the home is finished?
Many programs allow a rate hold or a one-time close that converts to a standard mortgage at completion. We compare rate-hold length, penalty math, and prepayment features so you pick the right path.
Get started
Ready to build. We will map your draws, coordinate inspections, and negotiate the market so your project moves without guesswork.
Soft check • No impact on credit • FSRA-licensed
