Financing For Custom Home Building | Abbotsford Mortgage Broker

Financing for Custom Home-Building Guide

A guide to help you land financing to build your dream home. If you're ready for personalized advice, go ahead and click "get started" below.

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Designing your dream home from the ground up

There’s nothing quite like having a home built, tailored to your tastes. You get to design a layout that works for your family, specify the finishes and furnishings that match your style, and watch as the vision becomes reality.

Of course, it’s not always that straightforward. There can be challenges along the way. Before you even get started, you need to make sure you have adequate financing in place. That’s where we come in.

A construction mortgage to finance your custom home

Robinson Mortgage has helped many people in Abbotsford, Chilliwack and throughout B.C.’s Fraser Valley design and build a home they love. Whether you work with an architect and contractor to design and build it, or you actually construct it yourself, we’ll help you access the financing you need for each phase of the home-building process.

A construction mortgage, also known as a builders mortgage, can help you get there. There are a few variations of construction mortgage—we can help determine which one is right for you.

Custom Home Building FAQ

What are the types of construction mortgages?
There are two main types of construction mortgages: completion mortgage and progress draw mortgages.
- A completion mortgage is used in cases where a contractor builds a new home for you and you aren’t expected to pay for it until construction is complete. In this scenario, the contractor uses their own money to fund the building process, and you pay for the home when it’s built, or nearly built. You typically finalize the mortgage, including the amount and providing your final information, 30 days before you take possession of the home. But you want to ensure that your financial situation and credit standing doesn’t change significantly between when you are approved and that final 30-day deadline.
- A progress draw mortgage is used in situations where you need to fund the building process, whether you have hired a contractor to built it or you’ve chosen to build it yourself. Funds become available in predetermined phases that correspond to the stages of construction. There may be three, four or five “draw” stages, where funds are drawn from your mortgage. Typically an inspection of the construction progress is required at each stage, before the funds are advanced. The cost for these inspections is usually deducted from the draw.
What documentation do I need to secure a construction mortgage?

It really depends on the type of project you’re undertaking, who is building the home, and what your timing looks like. Contact us at Robinson Mortgage and we’ll help you through it.

Hear from a few of our happy customers

Val Meyer

Matt was wonderful when we were buying and selling our house. As soon as we had a place we were considering, he would crunch the numbers for us and see if it was doable or not. Hes very quick in response time and easy to communicate with. This is our second time using him and we will continue to use his services in the future. Thanks Matt!

Nico Abais

As a first-time home buyer, my first resolve was to search for information online and sure enough I find bits of information all over the place. Then we were introduced to Matt. He will answer all your questions in a timely manner and guide you with the whole process and expectations. Matt will work his way to get you the best rate!

Tash Stobbart

Robinson Mortgage were very helpful in obtaining our first mortgage. We had difficulties dealing with banks because my husband is a contractor and has multiple T4’s and his income tax is complicated but Matt and his team made it easy. I would highly recommend to anyone looking for a mortgage and in fact I have sent friends his way.

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Expert mortgage advice is just a phone call away

Got questions? We’re happy to help. Reach out anytime or schedule a time that works for you. And we’ll help you get closer to your dream home.

Meet Matt

Robinson Mortgage is owned and operated by Matt Robinson, a professional mortgage broker based in British Columbia’s beautiful Fraser Valley. Matt has helped countless people in Abbotsford, Chilliwack, Mission and beyond navigate the process of finding financing for their home. Whether you’re buying your first place, consolidating your mortgage, or getting ready for a future purchase, Matt is your man with a mortgage plan.
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