Mortgages

Residential outbuildings

Couple looking at blueprints and plans for outbuilding project

Want to expand your home with a residential outbuilding like a residential shop or in-law suite? Add it to your ATB mortgage.

We’ve unlocked new financing options for the home addition you’ve been dreaming of.

For a long time, lending restrictions have left Alberta homeowners with few options when it comes to funding the addition of a residential outbuilding to their property. We’ve changed that.

In a Canadian first, you can now add your dream residential outbuilding to your mortgage, only at ATB.

Say hello to homegrown equity.

We are the first

We believe Albertans deserve to build the home they want. It’s why we spearheaded changes to lending policy in 2020 and are now the first Canadian financial institution to offer outbuilding financing.

Eligible residential outbuildings

Most garages, suites, shop-houses and residential shops are eligible for valuation and financing, as long as they’re for personal use only. Outbuildings used for business purposes are not eligible.

Versatile, flexible mortgages

Purchasing a new property? Finance your outbuilding with our Insured Mortgage. If you’re refinancing or renewing a mortgage on an existing property, you can finance with a Conventional Mortgage.

​Find the mortgage that's right for you.

Frequently Asked Questions

Every client—and every residential outbuilding—is unique, and so we consider each mortgage application on its own merits. However, in general, for a residential outbuilding to be eligible for valuation and financing, it must be:

  • For residential use only; the outbuilding cannot serve any business purpose
  • Permanent
  • Designed and constructed with high quality
  • Marketable, as verified by an appraisal which will be arranged and completed during the financing process

Ineligible structures include, but are not limited to, outhouses, lean-tos, sheds, horse shelters, or existing outbuildings that are dated, damaged or dilapidated.

If you plan to use your outbuilding for business purposes at any time, it’s ineligible for financing under an ATB residential mortgage.

As the first Canadian financial institution to offer this outbuilding financing option to our clients, the simple answer is—we had to start somewhere. As we help more and more Albertans finance residential outbuildings, we hope to leverage our success and continue to drive changes to regulation and policy in the mortgage industry.

Need help?

Our Client Care team will be happy to assist.

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