Building Your Own Home?

  • Conventional Financing Available
  • Minimum 35% down payment
  • Funds are advanced over stages of the build 


Are you building your own home on land you own1, a Self-Builder mortgage may help those dreams come true!

Financing Available:

  • Conventional2
  • Minimum 35% down payment required
  • Must qualify based on the current Bank of Canada 5 year benchmark rate 
  • Funds are advanced in stages over the construction period


Term options and rates to be determined at time of application


Payment Information

  • Accrued interest is deducted from advances and applied to the mortgage during construction
  • Construction beyond the excavation stage must start within 45 days of approval and be completed within 6 months of approval
  • If construction is not completed with the 6 month time frame, the mortgage may be placed on regular scheduled payments
  • Scheduled payments start once construction is complete

Additional Information

  • Valid fire insurance and assignment is required for the secured property
  • Property tax accounting service is offered at no cost3
  • Cost of credit and any fees will be disclosed at time of approval
  • Optional life, disability, loss of employment (GMP rider) and critical illness (GMP rider) insurance is available4

The information provided is general in nature only. For complete details contact a Conexus Credit Union lending expert.

  1. Plan specifications and cost estimates are required and will be reviewed and assessed by an independent appraiser.
  2. Loan is for no more than 65% of the appraised value or cost to construct (whichever is less). Down payment comes from your own financial resources. Amortization is maximum 25 years.
  3. Collection of property tax payments along with principal and interest payments may be a condition of mortgage approval.
  4. GMP (Group Mortgage Protection) is purchased separately through CUMIS.