Purchase and Improvement Mortgage
Get the right mortgage to create your dream home.
Is this for me?
Yes, if you want to buy a property and renovate it right away.
What is it for?
To finance a renovation and combine it with a mortgage all in one payment, with the same lender.
Buy and fix up
In the world of property investing, the ideal purchase isn’t always a new build. Set on a home that has everything you’re looking for, but it needs a little work from someone with a vision? There are specific mortgages on the market that provide the financing you need for the property itself, plus a little extra to fund the renovations you’re planning.
One mortgage, one payment
In order to secure a purchase and improvement mortgage, you must have a good idea of the renovations you want to complete. Lenders require quotes from the companies you’re considering to do the work, along with an outline of the specific jobs to be done. Then it’s up to your mortgage broker to get you approved for property financing and the extra amount for your renovations.
Working with 8Twelve
We love making our clients’ dreams a reality. With an accommodating product like the purchase plus improvements mortgage, there’s no reason why homeowner renovations need to wait. Our team is here to talk about your financial situation, hear what you’re planning to renovate, guide you through the necessary documentation required and secure the best possible mortgage product for you.
Have A Purchase + Improvement Plan For Your Property In Canada?
We make the process simple and straightforward. If you have additional questions, contact us. Our mortgage agents are knowledgeable and experienced, always ready to help you navigate the mortgage process and source the best deal for your purchase + improvements plan.