Construction Mortgages



Building your dream home could be one of the most rewarding experiences you ever undertake. So how can you finance building your own home?

A self-build mortgage is exactly what it says, a loan you secure to finance building your own house. With a self-build mortgage the money is released in instalments, typically with an initial loan to buy the land. Payments are then made at different stages of the build.

The key to a successful build is to understand the steps involved, and to follow through with the many details involved in building a home. From the first idea to the finished project, planning ensures you have your bases covered.

Single Family Pre-Construction Homes typically fall into three categories: .


Self-Build Home is when you act as your own contractor; hiring subcontractors to complete the work. Your mortgage options are: Progress Draw Mortgage, Completion Mortgage


Self-Build: Builder/Contractor is sometimes referred to as Turn Key. This is when you enter into an agreement with a contractor to build your home. Typically, the builder will request Financing Draws. Your mortgage options are: Progress Draw Mortgage, Completion Mortgage. It’s important to choose a contractor that is reputable with a solid track record (resume) of previous projects.


Mortgages on newly constructed homes, town homes, condominiums. Client requires funds when the home is 100% complete (will require the final occupancy permit in place). We have a wide variety of mortgage products on our “shelf” that you can choose best suited to your own unique situation.


We have a deep understanding when it comes to development loans as that has been an area of focus for the PNW Mortgage team.

Whether it be a parcel of raw land, or a site that is “shovel ready,” we have funding sources that can help in each of those cases.  We specialize in funding townhouse/condo land acquisition loans

We understand how the application process works with the various municipalities of the lower mainland, with most of our funded deals falling in:

  • Surrey
  • Cloverdale
  • Langley
  • Vancouver
  • Richmond
  • West Vancouver
  • Burnaby
  • Victoria (and Greater Victoria)
  • Nanaimo

We work with lenders who can approve these types of deals with the following terms:

  • Up to 75% on land acquisition (when shovel ready, 60% to 70% for raw pre-development)
  • 75% to 80% of hard and soft costs funded
  • Flexible draw system
  • Interest only payments
  • 12 to 36 month terms
  • Rates ranging from 3.50% to 6.50% (P+0.30% to P+3.30%) depending on deal quality

Please give us a call for a no obligation quote for any land holding, or development deals.