best mortgage rates Mississauga

Build Your Future with Expert Home Construction Mortgages

From foundation to finishing touches, our Home Construction Mortgages provide the flexible funding you need to build your custom home in Mississauga. Trust Khan Mortgages to manage your draw schedule so you can focus on the build.

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best mortgage rates Mississauga

Professional Financing for Your Mississauga Custom Build

Securing Home Construction Mortgages requires a specialized approach that differs significantly from purchasing an existing property. At Khan Mortgages, we guide you through the complexities of “progress draw” financing, where funds are advanced in stages as your project hits key milestones like foundation, framing, and lock-up. Our team coordinates with your builder and inspectors to ensure a seamless flow of capital, utilizing First Mortgages, Second Mortgages, or even Private Mortgage solutions when traditional banks have stricter requirements. We ensure your project adheres to the latest standards provided by the Canada Mortgage and Housing Corporation (CMHC), which can offer 30-year amortizations on newly built homes to help manage your long-term cash flow.

 

Whether you are a self-builder or working with a general contractor, our local Mississauga expertise ensures you secure the best rates while protecting your investment throughout the construction lifecycle. Contact Khan Mortgages today to speak with a construction specialist and secure the best mortgage rates in Mississauga for your new build.

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Architectural blueprints and a hard hat on a Mississauga residential construction site representing home construction mortgages from Khan Mortgages.

Here are a few examples of who can benefit from home construction mortgages:

1- A builder who owns a lot and is looking to construct a home on speculation.
2- A landowner aiming to build a property for sale or personal use.
3- A builder constructing homes for end-users who requires financing.
4- An investor who collaborates with a builder to develop land they own or have purchased for personal use or resale.
5- A property owner wishing to use existing real estate equity to acquire and build another property.
6- A builder, end-user, or investor seeking a bridge loan to advance or complete construction.
7- A builder, end-user, or investor wanting to purchase a property and needing financing to facilitate construction.

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Private Mortgage

Looking for a loan or a mortgage when you have a bad credit score or a bankruptcy in your name can be highly frustrating. Helping you get the Private Mortgage you need.

Bad or Poor Credit

Do you have bad or poor credit and are trying to get a mortgage but it's proven to difficult? We might be able to help. We have options to help those with bad credit get the mortgage they need.

Home Equity Line of Credit (HELOC)

A HELOC can be a great way to access needed money for those important things that come up in life. Helping you get the Home Equity Line of Credit you need.

Self-Employed Mortgages

We work with lenders from all across Canada that offer excellent mortgage options for self-employed Canadians like yourself. Helping you get the Self-Employed Mortgage you need.

Home Construction Mortgages Mississauga

Why Choose Khan Mortgages?

  • Progressive Draw Schedules: We manage 3 to 5 distinct draws to keep your contractors paid and your project moving.

  • Interest-Only Periods: Save on monthly costs by paying only interest on the funds drawn during the construction phase.

  • Flexible Qualification: Access to Private Mortgage lenders for land acquisition or projects that don’t fit bank criteria.

  • Seamless Conversion: Once your home is complete, we easily transition your construction loan into a standard First Mortgage at the lowest rates.
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How does it work?
How do I get started?

At Khan Mortgage, we’ve simplified the mortgage process to make it as easy and seamless as possible. Our network of experienced mortgage professionals will guide you through every step of the way.

1. Find an Agent or Broker

Find the expert you want to collaborate with.

2. Apply Safely Online

Approximately 5 minutes is all you need.

3. Get Your Funding Fast

When all goes according to plan, funding is swift!

(416) 807-5050
best mortgage rates in Mississauga

frequently asked questions

Find answers to your most pressing mortgage questions in our Frequently Asked Questions section.

A progress draw mortgage releases funds in stages (usually 3 to 5) as specific parts of the house are completed (e.g., 15% at foundation, 35% at framing). Each stage requires a professional inspection to verify progress before the next installment of Home Construction Mortgages is released.

Yes. If you already own your land in Mississauga, the equity in that land can often be used as your down payment for your Home Construction Mortgages. Khan Mortgages can help you leverage that equity to minimize your out-of-pocket costs during the build.

A builder’s mortgage is for those hiring a licensed general contractor to manage the project. A self-build mortgage is for those acting as their own contractor. Because self-builds are higher risk, Khan Mortgages provides access to specialized lenders and Private Mortgage options that cater to experienced DIY builders.

Once the final inspection is complete and the “completion draw” is issued, your construction loan typically converts into a standard principal-and-interest mortgage. Contact Khan Mortgages today to lock in your completion rate and ensure your transition from building to living is stress-free.