Do new builds always use draw mortgages?

No. Completed builder inventory may close more like a resale, while custom builds and construction files are more likely to use progress draws.

Does GST affect the mortgage amount?

Yes, depending on builder pricing and rebate assignment. Confirm the contract price and GST treatment before estimating payment.

Can a rate hold expire before possession?

Yes. New-build timelines can exceed a standard hold, so ask about expiry and extension options early.

Alberta mortgage guide

New-Build Mortgage Guide for Alberta Buyers

New builds can involve GST, rebate assignment, deposits, rate holds, builder delays, and draw schedules. Use this guide before relying on a resale-style payment estimate.

Last reviewed June 7, 2026 against current CMHC, OSFI, and CRA rules.

Check My New-Build Scenario

New-build pricing is different

Confirm whether the advertised price is before GST, after GST, or net of an assigned rebate.
Ask how upgrades, lot premiums, and deposits are treated in the contract.
Check whether the GST rebate is assigned to the builder or claimed later.
Use the purchase agreement, not only the marketing sheet, for mortgage planning.

Rate holds and timing

A standard rate hold may not match a long construction timeline.

Confirm the rate-hold expiry before signing.
Ask what happens if possession is delayed.
Expect updated income and down-payment documents before closing.
Keep credit and employment stable through the build period.

Draws vs. completed builder inventory

A completed new build may close more like a resale purchase.
A construction or progress-draw mortgage may release funds in stages.
Draw files can need inspections, builder milestones, and more coordination.
The lawyer, lender, and builder all need matching timelines.

New-build mistakes

Assuming the GST rebate is automatic.
Using a payment estimate that excludes upgrades or GST treatment.
Letting a rate hold expire without a backup plan.
Ignoring draw interest, deposits, and possession-date delays.

Related planning pages

Builder price before or after GST? Understand net vs. gross builder pricing. Rate holds for new builds Plan around longer construction timelines. GST rebate estimator Estimate rebate thresholds and buyer eligibility. GST rebate guide Read the deeper rebate rules and paperwork notes.

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Share the builder price, buyer status, occupancy plan, and GST estimate. A local lender can help confirm what should be verified before you sign.

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This site is for education and planning only. Calculator results are estimates only and are not mortgage approvals, financial advice, or lender commitments. Always get professional advice before making financial decisions. Rates, payments, cashback, eligibility, qualification, and lender options are subject to lender approval, insurer rules, borrower qualification, property details, and applicable terms and conditions. Alberta Mortgage Calculator accepts no liability for decisions made from calculator estimates or general site content.

New-Build Mortgage Guide for Alberta Buyers FAQ

Do new builds always use draw mortgages?: No. Completed builder inventory may close more like a resale, while custom builds and construction files are more likely to use progress draws.
Does GST affect the mortgage amount?: Yes, depending on builder pricing and rebate assignment. Confirm the contract price and GST treatment before estimating payment.
Can a rate hold expire before possession?: Yes. New-build timelines can exceed a standard hold, so ask about expiry and extension options early.