Purchase Plus Improvements Mortgage

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Purchase Plus Improvements Mortgage

You’ve found the house with an affordable price in the perfect neighbourhood with the right number of bedrooms, bathrooms and parking is exactly what you’re looking for. Then you walk in and it’s completely original. Fortunately you don’t have to walk away from this home.

With the Purchase Plus Improvements Mortgage you can update the home at the time of purchase. Here are some of the benefits.

  • - You can roll the cost of the improvements into your mortgage
  • - Rolling the costs into your mortgage will be cheaper than a line of credit
  • - You don’t have to have money for a down payment and renovations
  • - The renovations will increase the value of your home
  • - You will be less tempted to go overboard with costs as you will have a budget

Some of the renovations that are allowed are new flooring, new paint, bathroom or kitchen upgrade. You can even develop your basement or build a garage.

Negotiating a Purchase Plus Improvements Mortgage can be a little tricky. Give me a call or send me an email to discuss this further. After all getting the location and the style of home you want may be just a phone call away.


*Subject to approved credit, income verification and meeting lending credit granting criterea. Applies to residential mortgages only and some conditions may apply. O.A.C., E.O.E All content is subject to change without notice.