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Purchase Plus Improvement Mortgages
Found a new home that needs an upgrade, this mortgage can help
What is required
Down Payment
Standard down payment requirement for the home purchase price including renovations to be completed
Maximum Loan to Value
Up to 95% for purchases and up to 80% for refinances
Amortization
up to 30 years
How it works
Get an estimate from a licensed contractor with all associated costs listed for the improvement.
Have this included with the accepted offer to purchase.
This will all get sent together for approval.
Types of Renovations
• kitchen
• flooring
• garage
•basement development
there are endless renovations that will help turn your home into your dream home! Keep in mind that renovations need to be approved, requests such as furniture's, and appliance replacements may not be allowed.
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