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Information alone is not enough. A professional mortgage broker has something far more valuable: years of experience and your needs in mind. They put the information in context, they anticipate the variables and find the best loan for you. This is the kind of help you don't want to be without.

Purchase Plus Improvements

Many house hunters know the feeling of seeing a home that’s almost perfect, but it needs a few changes to take it to the next level. Maybe you want to tear out the retro kitchen floor, update the old-fashioned bathroom, or create more natural light by installing larger windows. With Purchase Plus Improvements, customizing your dream home is simpler and more affordable than ever before. You can buy your new home and pay for its renovation with one convenient mortgage and as little as 5% down.


  • Purchase transactions up to 95% or refinances up to 80% LTV
  • Extended amortizations up to 30 years
  • Maximum four units with at least one unit occupied as the principal residence
  • Available for new construction or existing properties

Purchase Plus Improvements is for home buyers looking to purchase or refinance a home that could benefit from a few renovations. This program allows you to purchase a new home and combine the costs of the renovations into your purchase. You can take advantage of a low mortgage interest rate and the simplicity of a single payment. You’ll be able to get started on the improvements immediately after taking possession of your new home.

How Does It Work?

  1. You’ll begin by assessing what renovations need to be done to your new home and then get a rough estimate of how much it will cost.
  2. can get you a mortgage approval based on the house’s current condition.
  3. From there, you’ll need to get firm price quotes from licensed contractors for the renovation work, ensuring these quotes specifically state the work that will be carried out.
  4. will then have your mortgage approval revised to include the cost of renovations. The maximum cost of the renovations that can be rolled in your mortgage will vary depending on the lender.
  5. At this point, you’ll be able to take possession of your new home and start the renovations. The work can be done by any company that you trust to complete the renovations to a high standard. You can pay for the renovation work using whichever financial method is best for you. For example, you may choose to use an existing credit card or line of credit. The renovation funds will be released from the lender after the renovations are completed and you’ll be able to pay yourself back.
  6. When the renovations are finished, a bank representative will verify that the renovations have been completed as required.
  7. Your lawyer will be instructed by the lender to release the funds for your renovations. You can use these funds to pay back your initial high interest loans, thus shifting the renovation costs into your low interest mortgage.

To learn more about Purchase Plus Improvements and similar mortgage products available, contact us today and speak with one of our representatives.

"Dare to compare with Canada's award winning mortgage team. We work for you and not the banks so we always have your best interests in mind."

James Harrison, President


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