Apply for a loan to build your first home

What is the Owner Build Program?

The Owner Build Program is for Yukoners who want to build a new home. They must be a first time homeowner and not able to get a mortgage from a bank,

Eligibility

  • You are a first-time homeowner building a new home for your primary residence.
  • You fall within our established debt-to-loan ratios.
  • You will need a 2.5% down payment.
  • The home you'd like to build must meet our modest design guidelines.
  • If you build your own home, you must show that you have required skills and experience to complete the project.

Apply for an Owner Build Loan

  1. Complete the Owner Build Loan application.
  2. Complete the Verification of Employment form.
  3. Submit your forms and supporting documents.
    In person: 410 Jarvis Street, Whitehorse, Yukon. Our hours are Monday to Friday from 8:30 a.m. to 4:30 p.m.
    Email: ykhouse@gov.yk.ca

Note: You have between 1 to 2 years to complete construction, depending on whether you hire a company to build or undertake the project on your own.

Loan financing details

  • Amortize up to 30 years in 5 year terms.
  • Interest only payments during construction.
  • Interest rate at or below 1% the average posted rates. This is the posted 5 year average interest rate at major banks.
  • You must prove your a bank ineligible every five years after year 10.
  • You can combine this program with Home Repair and Rental and Secondary Suite programs.
  • The value of the house can be up to the average real estate price by house type (based on the Yukon Bureau of Statistics previous quarter Real Estate Survey).
Contact: 

For questions about applying for a loan to build your first home email ykhouse@gov.yk.ca or phone: 867-667-5759 or toll free in Yukon: 1-800-661-0408, ext. 5759.