What is a Builder’s Mortgage?

A builder’s mortgage is a specialized financing solution designed to support homeowners who are building their dream home. Whether you are working with a contractor or acting as your own general contractor, a builder’s mortgage provides the financial flexibility needed to bring your vision to life.

This type of mortgage offers a structured way to access funds in stages, commonly referred to as “construction draws,” ensuring that you have the necessary resources throughout each phase of construction.

Who Can Qualify for a Builder’s Mortgage?

Builder’s mortgages are available to individuals planning to build a new home on a lot they own or plan to purchase. The approval process typically evaluates your creditworthiness, the construction plan, and the property value upon project completion.

If you’re ready to begin building, we can guide you through the qualification process and find the best builder’s mortgage for your unique needs.

How Do Construction Draws Work?

Builder’s mortgages provide funds in several draws, usually between three and five, depending on the complexity of your project. These draws are released at key milestones, such as:

• Foundation Completion
• Framing and Roofing
• Interior Finishes
• Final Inspection and Completion

Each draw ensures you have access to funds when you need them, helping to keep your project on track.

Why Choose Alberta Mortgages for a Builder’s Mortgage?

Alberta Mortgages works with a variety of lenders to secure the most competitive builder’s mortgage products in the marketplace. We understand the nuances of construction financing and can tailor solutions to meet your project’s requirements.

We proudly serve clients in Alberta, including Calgary, Edmonton, Red Deer, Lethbridge, and Medicine Hat, as well as in the Northwest Territories and Yukon.

Let’s Talk About Your Project – We’re Here to Help

Building your dream home is an exciting journey, and we’re here to support you every step of the way. Whether you’re just starting to plan or already breaking ground, Alberta Mortgages can provide expert guidance and tailored financing options to make your vision a reality.

Got Questions? Ready to Apply?

Contact us today to learn more about builder’s mortgages, or apply online to get started. Let Alberta Mortgages help you turn your dream home into a reality.