Home Construction Mortgages in Fort McMurray
We help you finance the build, line up draws, and stay on schedule from the first deposit to move-in day.
Get Your Free ConsultationNo-hassle, No-obligation. Your info is safe, and you’re in control.
My Fort McMurray Lending Advantage
Fast
Lending Approvals
Low Rates
Some of the lowest rates anywhere
99%
would recommend us
No-Obligation
free, no-hassle conversation
Construction financing is smoother when the mortgage plan matches the build schedule
Building a home in Fort McMurray is exciting, but it comes with more moving parts than a typical purchase. A home construction mortgage is designed to fund your project in stages, often through progress draws, so your builder can keep work moving while you keep your budget under control.
Our team helps you map out the financing early, review the paperwork lenders usually want, and line up a plan that fits your timeline, whether you are building in a newer neighbourhood, adding a secondary suite, or working through a builder with a structured draw schedule. We also help you think ahead about interest during construction, change orders, and what happens when the build converts into a standard mortgage at completion, all using Canadian lender guidelines.
A smart first step is a Fort McMurray mortgage pre-approval, even if you are still finalizing plans, it helps you confirm a realistic budget before you sign contracts. If your construction plan involves tapping equity in your current home, we can also review mortgage refinancing and, for renovation-style projects, you may also want to see our home renovations and construction financing options.
When you are ready, reach out through our contact page or start a secure mortgage application, we will give you clear next steps and keep the process moving.
Inquire TodayFAQs for Home Construction Mortgages in Fort McMurray, Alberta
How does a home construction mortgage work in Fort McMurray?
Most construction mortgages fund your build in stages using progress draws, which means the lender releases money as work is completed and verified. We help you align the draw schedule with your builder timeline, so the project keeps moving and you avoid last-minute funding surprises.
What do lenders usually need to approve construction financing in Canada?
Lenders often want a signed build contract, a detailed budget, plans and specs, and a realistic timeline, plus standard income and down payment documentation. We make sure your file is organized and lender-ready before you commit, which is especially helpful when schedules get tight during Fort McMurray’s busy build season.
Do we pay interest only during construction, or full mortgage payments?
Often, payments during construction are interest-only on the funds that have been advanced, and your full mortgage payment starts after the build is complete and the mortgage converts. We walk you through the payment timeline up front, so your budget stays comfortable while the home is being built.
What happens if our build runs over budget or we have change orders?
Change orders are common, but lenders need clarity on where extra funds are coming from, whether that is savings, additional equity, or a revised financing plan. We help you plan a buffer early and keep the lender informed, so small changes do not turn into a stressful pause in funding.
What is the best first step if we are thinking about building instead of buying?
We recommend starting with a pre-approval and a quick planning call, so you understand your budget before you sign a build contract. If you are juggling shift work or project schedules common in the region, we will keep the checklist simple and work around your timeline.
Please note: it's always best to get in touch with our team so we can answer your questions based on your exact situation and keep everything accurate.
Our Alberta Mortgage Service Areas
Fort McMurray | Lac La Biche | Athabasca | Cold Lake | Slave Lake | Bonnyville | Smoky Lake | St. Paul | Westlock | Barrhead | High Prairie and all across Alberta!
