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Modern custom home on the Saskatchewan prairie near Saskatoon

financing

Financing Your Custom Home Build in Saskatoon

Line up your financing before the build starts.


A custom home is one of the largest financial decisions most families make. The money moves at a few clear points: a deposit to secure your lot, a deposit at contract signing. Knowing when each one is due helps you arrange financing before it is needed.

Fraser Homes has been building custom homes in Saskatoon since 1996. We prepare an itemized quote from your plans and selections before we break ground, so you can see where every dollar goes.

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A finished Fraser Homes interior

when the money moves

How payments work with Fraser Homes


  1. 01initial depositAn initial deposit secures your selected lot. Then we can move ahead with the plans.
  2. 02contract depositOnce we have reviewed the plans and you are ready to go, a deposit is due at the signing of the contract.
  3. 03construction financingFraser Homes does not ask you to set up a builder’s mortgage.
  4. 04possessionWe don’t ask for anything else until possession. At that point we walk you through the home and turn over the keys.

the lot and site work

The lot and site work are extra.


The lot is a separate purchase from the build, and Saskatoon lot prices vary by community. Plan for servicing, permits, excavation, and landscaping on top of the construction cost. The per-square-foot ranges on our build cost page cover vertical construction only, so they do not include the lot.

See Available Lots ›

A finished Fraser Homes interior

build timeline

A shorter build means fewer months of construction interest.


Most Fraser Homes custom homes are completed in four months. Industry timelines often run 7 to 12 months or longer. Interest on the money you draw during construction accrues for as long as the build runs, so the timeline matters to your budget.

See how the build timeline works ›

ask your lender

Questions to take to your lender


  • What is the minimum down payment for my purchase price? In Canada it is 5% of the first $500,000, with higher requirements above that.
  • How are construction funds released, and who inspects the work before each release?
  • When does interest start on the money I draw?
  • Can one approval cover both the lot purchase and the build?
  • How long does my pre-approval last before we sign a contract?

common questions

Financing questions we hear most


Does Fraser Homes require a builder’s mortgage?

No. Fraser Homes does not ask you to set up a builder’s mortgage. Apart from the deposits, nothing else is asked until possession.

When is the deposit due?

An initial deposit secures your selected lot. A second deposit is due at the signing of the contract, after the plans are reviewed.

Is the lot included in the cost to build?

No. The lot is a separate purchase. Servicing, permits, excavation, and landscaping are also extra.

Book a no-obligation meeting with Fraser Homes

let’s work together

Book a no-obligation meeting


Bring your questions and your plans. We will prepare a clear, itemized quote for your custom home.

Ready to talk financing?

Book a no-obligation meeting

We will review your plans and prepare a clear, itemized quote.

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