PURCHASE + IMPROVEMENT = DREAM PROPERTY

GET A MORTGAGE TO FUND IT ALL

BUY AND FIX UP

In the world of property investing, the ideal purchase isn’t always new build. Perhaps you’ve got your eyes 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 + 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 perform the work, along with an outline of the specific jobs that will be done. Then it’s up to your mortgage broker to get you approved for property financing and the extra amount for your renovations.

Planning your home improvements

In order to secure a purchase + 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 perform the work, along with an outline of the specific jobs that will 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 a new homeowner’s 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.

What’s the takeaway?

THIS APPLIES TO YOU IF YOU ARE...

You want to buy a property and renovate it right away.

YOU NEED IT BECAUSE...

The ideal way to purchase a property that you want to renovate is to acquire a mortgage that will not only fund the initial property purchase, but also the renovations you want to perform. This way, everything falls under one umbrella. You make one monthly mortgage payment and don’t accumulate debt in other areas.

You can OBTAIN A PRE-APPROVAL by…

Clicking the link below to get started. 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.

Have a purchase + improvement plan for your property in Canada?

We want to hear about it.