Your homebuilder can require installment payments during the build. Typically, mortgage disbursements occur in four phases with key milestones to meet over the 12 months of construction. Funds are released after the build has passed inspection.
Inspection 1 – foundation
Inspection 2 – framing, electrical, plumbing and heating
Inspection 3 - insulation and vapour barrier (no drywall)
Inspection 4 – completion of the build