Construction Mortgage

Build your dream home!

CUA offers a self built construction mortgage, which is available to both individuals and builders working on behalf of clients. The following information provides an overview of what’s required and will help guide you through the process. Please note, additional information may be required based on each individual application.

What’s required

At various stages of the construction, CUA will require the following:

  • Building Permit
  • Two copies of House Plans
  • Quotes (worksheet will be provided)
  • Copy of fire insurance with CUA as loss payee
  • Confirmation of property taxes paid to date, if land was previously owned
  • Municipal Inspections – Footings, Foundation, Framing, Drywall, Plumbing and Electrical
  • Septic Certificate, if applicable
  • Well Report, if applicable
  • Water Test, if applicable
  • CMHC/Sagen/Appraiser Reports, if applicable
  • Occupancy Permit, required prior to final advance
  • Home warranty, if contractor built

First advance

When the build is roof tight. Monthly interest payments required after first advance at contract rate +1%.

Second advance

When the outside walls are constructed and roof is shingled.

Third advance

When plumbing, heating, windows, insulation and chimney are installed.

Fourth advance

When the entire project is 80% complete.

Fifth advance

When the build is fully complete, following final inspection approval and Occupancy Permit has been obtained.



Competitive rates are available. Please reach out to a member of the CUA team or book an appointment online.