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Did you know that your renovation costs can be included in your mortgage?

 
 
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 Many home buyers find themselves in the same predicament: they’ve found their dream property, but it needs costly and immediate upgrades.

So, what’s the solution?

Instead of racking up credit cards or selling off investments, consider a mortgage specifically designed to allow you to add the costs of those immediate renovations into your mortgage.

 

Want to know more about how this process works?
DOWNLOAD OUR FREE GUIDE:

How a ‘Purchase Plus Improvements’ mortgage product works

 
 
 

Use your mortgage to your advantage and leverage your purchase, plus improvements.

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This sounds great, but how does it really work?

Essentially, this type of mortgage covers the sale price of the home, plus any renovations that would increase the value of the property, with as little as 5% down.

Thinking it sounds complicated? Not to worry — the process is quite simple when you work with a professional (like us!) to help guide you through the process.

 
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It’s a smart, and cost-effective way to fund necessary renovations.

If you’re buying a home but want to redo a kitchen/bathroom, redo the roof, or get new windows, it makes sense to add those costs to your mortgage instead of carrying the cost on credit cards and lines of credit.

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Once you have found a home, you’ll need to get detailed quotes.

When it comes to the planned renovations, you will need to provide the scope, estimated costs, and other specifics to your mortgage broker so that an appraisal can be ordered and your paperwork can be finalized.

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Once you get possession of your home, improvements can begin.

Once the work has been completed and then inspected, the funds to pay for the renovation will be released. All there is left to do at that point is enjoy your new, beautiful, updated home.

 
 

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The 5 Things You Didn’t Know About a Purchase Plus Improvements Mortgage Guide is on it’s way to you!

 
 
 
 
 
 

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