Building a New Home

Man Installing Glass Door

Finance a home custom built for you.

Building a new home provides you the opportunity to select the lot, layout and finishes of your home to suit your lifestyle and personal design preferences.  There are many decisions ahead of you when it comes to your new build, including your financing options, so this will help you learn the basics and be ready when it comes time to decide.

How a Builder’s Mortgage Works

A Builder’s Mortgage works differently than a mortgage for a home that is already built. When getting a builder’s mortgage to purchase a custom built home, the money is advanced to you at completion of each of the four stages of the construction, otherwise known as draws. Here are the four stages:

Stage 1: Foundation 
Stage 2: Complete framing
Stage 3: Interior finishing completed
Stage 4: Final inspection, home is complete

Every build is different and some may be more complex than others so speak with a Cambrian Lending Specialist to see if tailoring your draws is right for you.