New Build & Construction Mortgage

Buying new construction — or building from the ground up — works differently from buying a resale home. Here’s what you need to know, and how I’ll guide you through it.

Buying a new home from a builder

Builders usually require deposits in stages as construction progresses.

Your mortgage typically funds at possession, but you'll want a rate held and an approval in place long before then.

30-year amortizations are available on new builds for all buyers (not just first-timers) — lowering your monthly payment.

Building your own home (self-build / draw mortgage)

A construction draw mortgage releases funds in stages as building milestones are completed (foundation, lock-up, completion). I’ll line up a lender comfortable with construction and make sure the draw schedule matches your builder’s.

The new First-Time Home Buyers’ GST Rebate

This is big for new builds: eligible first-time buyers can recover the full 5% federal GST — up to $50,000 on a new home priced up to $1 million (phasing out between $1M and $1.5M). It became law in March 2026. If you’re a first-time buyer eyeing new construction, this can be substantial savings — let’s make sure you qualify and claim it correctly.