What is it?
This program allows you to borrow the cost of renovations (up to a certain percentage) and add it to the home price, rolling it all into one easy-to-manage mortgage payment. Once you take possession of your new home, you can start the upgrades immediately. This type of mortgage comes with a few extra requirements before signing, such as providing quotes for the work that needs to be completed.
What does it allow?
- Competitive interest rates apply
- The cost of renovations is added to the home purchase price, with mortgages available up to 95% Loan-to-Value (LTV) or refinances up to 80% LTV
- Amortization for up to 30 years, depending on the lender
To discover if this option is right for you, get in touch with me today!
