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Featured Rates

FIXED RATE

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3.99%

5 YEAR

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VARIABLE RATE

This illustration features an hourglass with a yellow top and bottom. Inside the top half, a dollar sign is prominently displayed, representing how time equates to money—a concept every mortgage broker at Turkin Mortgage understands well, as sand trickles seamlessly down.

4.95%

5 YEAR

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We don’t work for banks. We work for you
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Toronto Construction Mortgages

Fast-track your custom build or renovation – Apply in Minutes, Close in Hours, 35+ Lender Choices
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Based on 150 Verified Google Reviews

Expert Advice, Zero Pressure

Toronto Construction Mortgages

  • Quick, Simple and Secure!
  • No Credit Check Needed
  • No 100% Confidentiality
  • No Obligation and No Cost to You
  • Lowest Mortgage Rates
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Client testimonial featuring a five-star rating, praising professional refinancing assistance by Turkin Mortgage.
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Five yellow stars representing high ratings for Turkin Mortgage services in Newmarket, emphasizing customer satisfaction and trust in mortgage solutions.

Based on 150 Verified Google Reviews

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Featured at

Planning to build your ideal home in Toronto?

Construction loans make it simple to fund your project from beginning to end. Our specialists will assist you at each stage, ensuring a hassle-free and efficient experience.
  • Quick, Simple and Secure
  • Fast Pre-Approval
  • No Obligation and No Cost to You
  • 100% Confidentiality
Apply Now
Turkin Mortgage Team that helps you find the best and Lowest Mortgage Rates in Ontario, Toronto Canada
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Discover the Best Mortgage Rates in Ontario

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4.54%

1-Year Fixed Rate Mortgage

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3.65%

3-Year Fixed Rate High-Ratio Mortgage

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3.65%

5-Year Fixed Rate High-Ratio Mortgage

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3.90%

3-Year VRM Rate High-Ratio Mortgage

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3.54%

5-Year VRM Rate High-Ratio Mortgage

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3.54 %

5-Year VRM Rate High-Ratio Mortgage

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Access Competitive Rates from Top Lenders

Eager to begin your project with assurance? Reach out to us now to lock in your construction loan and embark on creating your dream home!

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Why Choose Us for Your Construction Mortgage?

We put your needs first – offering access to 35+ lenders so you always get competitive rates. Apply online in just minutes and benefit from rapid approvals, reducing your wait time and stress. 

Banks

  • Customers are treated like transactions
  • One set of products & policies
  • Lender needs come before yours
  • Long application processing wait times
  • Call centres and a revolving door of staff

VS

Turkin Mortgage

  • Customers are treated like people
  • Considered options from over 35 lenders
  • Your needs and goals always come first
  • Experienced mortgage experts located in Toronto
  • Stable dedicated team to champion your finance approval
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$1000 Cash Back or Free iPad When You Close With Us!

*Certain conditions may apply, ask a Turkin Mortgage Agent for more details.
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Our Construction Mortgage Process - Made Simple

Ready to turn your plans into reality? Connect with us today and let’s get building!
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Step 1

Tell Us About Your Dream Build

You share your vision - location, blueprints, budget. Not sure what documents you’ll need? No worries, we’ll walk you through everything.

Step 2

Get Expert Guidance, Right Away

We’ll review your plans and finances together, explain what’s possible, and answer questions like, “Can I use my land’s value?” (Yes, you can!)

Step 3

Secure Pre-Approval - Fast

We’ll shop lenders for you, aiming for pre-approval in record time. This gives you confidence - and leverage - with builders.

Step 4

Easy, Ongoing Support As You Build

As construction moves forward, we handle all the mortgage paperwork at each stage (draws), so you don’t have to stress about details.

Step 5

Move Into Your New Home - Stress Free

When your build is complete, we help transition your mortgage seamlessly. Questions afterward? We’re still here. Your home, your peace of mind.

Plan Your Home Purchas with Our Mortgage Calculator

Turkin Construction Mortgage Benefits

Create Your Ideal Home Without Hassle

Avoid the confusion of tricky financing. Benefit from a smooth construction loan process with professional support at every phase, allowing you to concentrate on designing your perfect home.

Customized Choices for Distinctive Projects

No matter if you're building from scratch or undertaking a significant renovation, receive loan options tailored to your specific dreams - not a one-size-fits-all approach that doesn't align with your aspirations or finances.

Adaptive Financing During Construction

Obtain funds in convenient phases as your project advances. This approach ensures you're not overpaying interest and helps maintain a steady cash flow.

Guidance Through Every Challenge

Building projects come with their own set of hurdles - permits, payment releases, builder agreements. Rely on local experts who foresee challenges and mitigate issues before they arise.

Great Rates, Fully Transparent

Partner with a team that secures the best rates for you, maintains clarity in costs, and provides complete explanations, ensuring you're always aware of any fees.

Assurance with Continued Support

Relax, knowing you have a committed partner safeguarding your interests, from the initial steps to the day you settle into your completed home and beyond.

What Toronto Homebuyers Say About Turkin Mortgage

Real experiences from Toronto residents who chose Turkin Mortgage for their home financing needs. Discover the quality and reliability of our services through their testimonials.

Five yellow stars representing high ratings for Turkin Mortgage services in Newmarket, emphasizing customer satisfaction and trust in mortgage solutions.

Based on 150 Verified Google Reviews

Five yellow stars representing high ratings for Turkin Mortgage services in Newmarket, emphasizing customer satisfaction and trust in mortgage solutions.

Based on 150 Verified Google Reviews

Turkin Mortgage: Where You Matter

If you’re worn down by subpar service from banks and other brokers, we’re here for you. We offer premium service that the big banks just can’t deliver.

With experienced mortgage brokers located right here in Toronto we’re ready to help you achieve and exceed your goals.

3.79%

Hold rate for 120 days

YES

Cashback available

↑ 20%

Lump sum prepayment 20%

house

48H

Quick close, 48 hours

3.79%

FAQ

Worried about financing your custom home or major renovation? A construction mortgage is a short-term loan designed to cover these costs. Unlike traditional mortgages, funds are disbursed in phases as the construction progresses, keeping your budget on track for your dream home or renovation project.

Facing a long construction period? Traditional mortgages offer lump sum payments for existing homes, whereas construction mortgages release funds progressively as per a draw schedule. Initial payments usually cover interest only, transitioning to principal plus interest after completion.

Unsure if your project qualifies? Essential criteria include:
  • Credit score: At least 680 to show financial stability.
  • Down payment: Generally 20-25% of the total project cost.
  • Construction plans: Detailed blueprints with a licensed builder.
  • Contingency funds: An additional 10-15% for unforeseen expenses.
Confused about accessing your funds? Releases occur at these stages:
  1. Land acquisition (if buying land).
  2. Foundation set up.
  3. Framing and roof installation.
  4. Installation of electrical and plumbing systems.
Final check and occupancy permission.
  1. Each stage requires inspection approval before the next fund release.

Worried about initial costs? Typically, a 20-25% down payment of the total project cost is needed. For instance, a $1M project demands $200k-$250k down. Some may qualify for high-ratio mortgages with as low as 10% down.

Concerned about what affects your rates? They are usually higher due to project risks, influenced by:
  • Your credit history.
  • The construction phase duration (12-24 months).
  • Lender's risk evaluation (contractor's skill, project location).
  • Rate type (variable rates are common during construction).

Looking for a seamless process? A combo mortgage covers both land and construction under one loan, simplifying the process with a single closing and less paperwork.

Worried about budget approval? Lenders look at:
  • Contractor quotes (materials, labor).
  • Blueprints and necessary permits.
  • Appraisals (estimated value post-completion).
  • Contingency funds for unexpected costs.
Dreading the paperwork? Prepare:
  • Purchase agreement for land (if applicable).
  • Building permits from the municipality.
  • Builder's license and insurance proof.
  • Detailed timeline and cost estimates.
  • Personal financial documents (income, assets, liabilities).
Anxious about project delays? Lenders can:
  • Extend the loan duration (with possible rate adjustments).
  • Use unused contingency funds.
Assist in resolving contractor issues.
  • Effective communication is key to reducing stress, and we're here to guide you through any delays smoothly.

The Mortgage Brokers Blog

Discover the ins and outs of the Toronto mortgage scene with our expert guidance. From securing the best mortgage deals in Toronto to understanding local real estate dynamics, we've got you covered.

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Turkin Mortgage Across Ontario

…by providing award winning customer service to each and every single client.

Don't know where to start?

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