Purchase Plus Improvements

Are you planning on buying a home that needs renovations? This can save you money in sometimes, and is worth looking into. If this is the case, we’ll help you get a purchase plus improvement mortgage.

How does it work?

First you must prove the repairs and upgrades you will be conducting, along with accurate quotes. The lender will then need to agree that those changes do increase your home valuation, and further, send you an approval for the revised appraisal.

During the renovation you will need to pay out of pocket, but once it is complete, you will be reimbursed with the funds according to plan. Keep in mind that many lenders will want the renovations or upgrades completed in a 90-day period.

What properties are eligible?

Max four units where 1 unit is owner occupied
New construction
Existing properties