Construction mortgage rates in Ontario
The lowest published rate among 5 matching products is 6.95%, from Mainstreet Credit Union.
5 products from 3 lenders. One record per lender is shown, lowest displayed rate first. Latest check October 19, 2026.
- Mainstreet Credit Union
1 Year Construction Open · 1 year · First mortgage · LTV not stated · Fee not published
Residential construction; lender qualification criteria apply
6.95%1-year construction openChecked October 15, 2026Lender source opens in a new tab - Richview Capital MIC
Construction First Mortgage · Term not stated · First · Up to 65% LTV · Fee wording published
Ontario · LTV assessed case by case · appraisal and credit approval required
From 8.99%Checked October 19, 2026Lender source opens in a new tab - Northside MIC
Construction First Mortgage · Term not stated · First · Up to 75% LTV · Fee wording published
Ontario property · location and property premiums may apply
Starting at 9.99%Checked October 19, 2026Lender source opens in a new tab
What this list shows
A construction mortgage finances the building of a home. The lender usually advances the money in stages, called draws, as the work reaches set points, and interest is charged on the amount advanced so far.
This list gathers the records lenders publish as construction financing. It is short: most lenders price construction loans case by case and publish no rate. Published construction rates are typically higher than ordinary residential mortgage rates and often come with a lender fee, shown here where the lender publishes its wording.
Loan-to-value limits for construction are often expressed against the cost to build or the value on completion, and lenders define those differently. Each record repeats the lender’s own wording and does not convert it. A rate shown as “from” is a starting point, not a quote.
Records are ordered by the smallest displayed rate so the list is easy to scan. That order is not a ranking of which mortgage suits you, and it says nothing about which lender would approve an application.
Published rates only, in each lender's own wording. This is not a recommendation or an approval. Rates can change after the date shown; open the lender's source and ask for a current quote before acting.