Mortgage Help for Pre-Construction Buyers

Quick answer: Buying pre-construction means your mortgage is approved twice: once to plan the purchase and once at closing, often two to four years later. A licensed mortgage agent can pre-approve you before you sign, plan your deposit schedule, and line up the final mortgage for closing. Fill in the form and one will call you, free and with no obligation.

What we help pre-construction buyers with

• Pre-approval before you sign. Know your budget before a launch event, so you can choose a home with confidence. Most pre-approvals hold a rate for 90 to 120 days, so they are a budget check rather than your final mortgage.
• Deposits and closing. Lenders do not finance deposits. We help you plan the deposit schedule from your own savings and line up the mortgage that funds at closing.
• First-time buyers. Using a First Home Savings Account (FHSA), the RRSP Home Buyers’ Plan and the GST and HST new housing rebates together. See our 2026 buyer’s guide for how the rebates work.
• Investors. Mortgages for rental units, how lenders treat rental income, and what to expect at closing if you will not live in the home.
• Assignments, renewals and refinancing. Financing an assignment purchase, or planning ahead if your circumstances change before closing.

Rules to know in 2026

• Stress test. Lenders qualify you at the higher of your contract rate plus 2 percent or 5.25 percent.
• Down payment. Below 20 percent down, the mortgage must be insured. The minimum is 5 percent on the first $500,000 of the price and 10 percent on the portion up to $1,500,000; homes over $1.5 million need 20 percent down.
• 30-year amortization. Since December 15, 2024, insured mortgages can be amortized over 30 years for first-time buyers and for buyers of newly built homes.

Rules and lender policies change. Confirm the details for your situation with your mortgage agent.

How it works

1. Send the form. It takes about a minute.
2. Talk to a licensed mortgage agent. Usually within one business day, by phone or video.
3. Get your plan. Your budget, a pre-approval if you are ready, and a deposit and closing plan for the project you choose.

Want to run the numbers first? Use our mortgage calculator, the HST rebate calculator and the land transfer tax calculator.

Questions buyers ask

Can I get a mortgage for a home that closes in three years?

You can get pre-approved now to set your budget, but the final mortgage is arranged closer to closing, because pre-approvals usually hold a rate for 90 to 120 days. Your agent will plan for that gap with you.

Do I need a mortgage to pay the deposit?

No. Deposits come from your own savings on the builder’s schedule, commonly 15 to 20 percent over 12 to 24 months for condos and often less for freehold homes.

Does it cost anything to talk to a mortgage agent?

No. The consultation is free. For a standard residential mortgage the agent is usually paid by the lender.

Can I use this if I am buying a resale home?

Yes. The same agent can help with resale purchases, renewals and refinancing.

Mortgage advice and mortgage applications are provided by independent mortgage agents and brokerages licensed by the Financial Services Regulatory Authority of Ontario (FSRA). RE/MAX Gold Realty Inc., Brokerage is a real estate brokerage and does not arrange mortgages; we introduce you to a licensed mortgage agent. This page is general information, not financial advice. E. & O.E.