Purchase Plus Improvements

If you want to buy a home that needs al little work, the Purchase Plus Improvements Mortgage could be perfect for you.

For as little as 5% down, the Purchase Plus Improvement Mortgage allows you to make all your improvements as soon as you take possession of your property and have all the costs of the improvements rolled into one mortgage.

Important things to know about Purchase Plus Improvement Mortgages

1. You must have a firm price prior to the possession of the subject property
2. You will only receive funds after the work is completed so you must pay the initial costs upfront
3. The value of the property is then based on a “completed” value
4. Use the services of an independent mortgage broker to shop all the lenders to ensure you get the best mortgage product and rate on the market.