Our Purchase-Plus Improvements Program (PPIP) covers the sale price of your home, as well as the renovations you’d like to add to enhance the value of the property. PPIPs have historically low interest rates attached to the mortgage, helping homebuyers save significant amounts of money on their home renovations. After getting quotes from a contractor, the Canadian Mortgage and Housing Corporation (CMHC) will review a loan of the ‘as improved’ value of the home.
Compared to a line of credit, which will be up to 80% of the property’s market value, a construction mortgage provides an alternative for homeowners who only have 5% of the down payment to buy the home they want, along with the improvements they need. We won’t just finance the perfect house for you and your family, we’ll help you make it a home. Contact us
today to discuss our PPIP and the renovation financing options.