The (fairly new) Purchase Plus Improvement mortgage offer greater financing choices to borrowers who are building new homes or who want to undertake small or large scale improvements to existing homes where the improvements will increase the value of the property.
The borrower can purchase a property and if the property needs some work, the cost of rennovations can be put on the mortgage. (up to 10% of the market value of the home). Borrowers can still get the great new rates available and get additional funds to make the changes they want to truly get the home they were looking for.
So if you see that house that seems right for you, but you are affraid that some reno's need to be done, don't fret because the funds for those rennovations can now come from the lender.
Ask how this mortgage product at great rates can be obtained. 519-497-2509
B.A. Sales Representative and Mortgage Agent