Did you know?
Home buyers are often unaware of the various mortgage products available to them, some of which can assist in the final decision of which home to purchase. Some of these products are only available through a mortgage broker, as all lenders do not carry the same products.
Purchase Plus Improvement Mortgage
This type of mortgage allows you to add improvements to your
mortgage at the time of purchase.
Typically you can add:
20% of the purchase price, up to $40,000, for high ratio mortgages. (Down payment amount less than 20%...aka Insured Mortgages) OR
20% of the purchase price, up to $60,000 for conventional mortgages. (Down payment at 20% or greater.)
The great news is that we now have a lender that will do improvements of 20% of purchase price, up to $100,000 for all mortgages.