Purchase and
Improvement
Mortgage

Get the right mortgage to create your dream home.

Purchase and Improvement Mortgage

Is This Right for You?

If you’re a homeowner and have built equity in your property, this option could be a smart financial move.

What Can It Be Used For?

You can access part of your home’s equity to cover major expenses—like home renovations.

Buy and Renovate

In real estate, the best investment isn’t always a brand-new property. Sometimes the right opportunity is a home that fits your needs perfectly but requires a little vision—and some upgrades—to reach its full potential. For these situations, there are specialized mortgages designed to cover both the purchase price of the property and the renovation costs you plan to take on.

One Mortgage, One Monthly Payment

With a purchase-plus-improvement mortgage, you can roll your home financing and renovation budget into a single loan. To qualify, lenders typically require a clear plan: detailed quotes from contractors, a breakdown of the specific improvements, and a realistic timeline for completion. Once everything is in place, your mortgage broker works with the lender to secure approval for both the property purchase and the funds needed to complete your upgrades.

This way, you get:

  • A single mortgage payment instead of juggling multiple loans.

  • The freedom to customize your property right after purchase.

  • The ability to turn a “fixer-upper” into your dream home or a profitable investment.