Financing Your Dream Home with Quinte Custom Homes
At Quinte Custom Homes, we understand that building your custom dream home is one of the biggest investments you'll ever make. That’s why we offer flexible and transparent custom home financing options in Ontario to help make your vision a reality—without the stress.
Whether you’re a first-time builder or upgrading your lifestyle, we work closely with reputable lenders, mortgage brokers, and financial advisors who specialize in construction mortgages, ensuring you’re supported every step of the way. Our goal is to simplify the financing process and give you the peace of mind you deserve as you begin your custom home journey.
Custom Home Construction Financing in Ontario
Unlike traditional mortgages, construction financing typically involves a progress-draw mortgage, where funds are released at key stages of the build—foundation, framing, lock-up, and completion. This type of loan is tailored specifically for new builds and requires an appraisal at each draw stage.
To get started, you'll need a down payment (usually 15–25%) and an approved building plan. We’ll assist you in coordinating with local lenders familiar with the Ontario Building Code and provincial lending practices to ensure smooth approvals and compliance.
Financing Support That Works For You
We tailor our approach to match your needs. Whether you’ve already secured land or are looking for a turnkey solution, our team will walk you through:
- re-approval and budget planning
- Lot acquisition financing
- Construction-draw schedules
- Coordination with lenders and legal professionals
- Final mortgage transfer upon occupancy
Financing FAQs - Quinte Custom Homes
Q1: What is a progress-draw mortgage and how does it work in Ontario?
A progress-draw mortgage is a type of construction financing used when building a custom home. Instead of receiving the full mortgage amount upfront, the lender releases funds in stages, or “draws,” as construction milestones are completed—typically foundation, framing, lock-up, and completion. At each stage, an appraiser confirms the work is done before the next draw is released. This protects both the lender and the homeowner by ensuring the home is being built to plan. At Quinte Custom Homes, we help coordinate the draw process with your lender, builder, and appraiser to keep everything running smoothly.
Q2: How much down payment is typically needed to finance a custom home build?
In Ontario, the required down payment for a custom home construction mortgage usually ranges from 15% to 25% of the total project cost, depending on the lender and your financial profile. This includes the land value (if already owned or being purchased), construction estimates, and soft costs such as permits or design fees. Quinte Custom Homes works with trusted mortgage professionals to help you understand exactly what’s required for your specific project and to ensure you’re fully prepared before breaking ground.
Q3: Can I get financing if I don’t already own land?
Yes, you can still qualify for financing even if you don’t currently own land. Many lenders offer combined land and construction financing, allowing you to roll the purchase of the lot and the home build into one mortgage. Quinte Custom Homes can help you find suitable land in your desired area, assess zoning and servicing requirements, and connect you with lenders who specialize in these types of construction mortgages. It’s all part of our commitment to making custom home building as accessible and straightforward as possible.