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,
- 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
- Complete the home ownership loan program application. (Include scope of project section for owner build loan program).
- Complete the verification of employment form.
- 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.
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.
For questions about applying for a loan to build your first home email firstname.lastname@example.org or phone: 867-667-5759 or toll free in Yukon: 1-800-661-0408, ext. 5759.