Financing

    Preparing for the lender conversation

    This page does not list programs, rates, loan amounts or qualification rules. Terms vary by lender and by borrower, and change over time — this is how to walk into the conversation prepared.

    Read this first

    We do not publish loan amounts, loan-to-value limits, amortization terms, rates or qualification rules for suite financing. Those terms are lender-specific, change without notice, and depend on your circumstances. Get them from a licensed mortgage professional and your lender in writing. Nothing on this page is financial advice.

    Documents to assemble before you call

    • Current mortgage statement and property tax assessment
    • Proof of income and employment as your lender defines it
    • A real property report and survey, if available
    • Site plan and architectural drawings for the proposed suite
    • An itemized, written builder quote with scope and allowances
    • A separate line for servicing and underground infrastructure costs
    • Permit and fee estimates from the City
    • A construction schedule and draw schedule
    • Any City incentive program correspondence, if you have applied

    Questions to ask your lender and mortgage professional

    1. What products do you offer for financing new construction of a backyard suite on an existing property?
    2. How do you value the property — as-is, or on completion of the suite?
    3. How are funds advanced: lump sum, or progress draws tied to inspections?
    4. What are the qualification requirements, and what documentation supports them?
    5. How is any projected rental income treated in your underwriting, if at all?
    6. What are the interest, fee, appraisal and legal costs, and what are the carrying costs during construction?
    7. What happens if the build runs over budget or over schedule?
    8. What insurance is required during construction and after occupancy?
    9. Are there prepayment or refinancing restrictions I should know about?

    Who to involve

    • A licensed mortgage broker or your lender, for borrowing terms.
    • An accountant, for tax treatment of construction and rental income.
    • A lawyer, for title, tenancy and contract questions.
    • An insurance broker, for coverage during and after construction.

    Before financing, scope the build: see the cost-driver worksheet, and check whether the City incentive program applies to your situation.

    Screening only — not an approval. This is a screening tool, not an approval. Nothing on this page confirms that a backyard suite can be built on a specific property — only the City of Calgary can do that through the development and building permit process.

    Facts on this page are drawn from current City of Calgary pages and were last reviewed August 31, 2026. Rules change and every parcel is different. Verify current requirements with the City of Calgary before making any decision.