You’ve found the ideal property, but it’s a little rough around the edges. Not to worry. You can make the improvements you need right away, and set up one manageable mortgage to pay for them. And you can do it with as little as 5%.*

Having your Cake and Eating it Too.
Essentially you’re getting a mortgage on the property you will eventually create. That means you have to understand the extent of the renovations you want to do, and how much they’ll cost.
First you need an appraisal of the current property. We can help you with that and get you a mortgage approval on the as-is basis.
Next, you get firm quotes for the work that’s required. Based on either the value of the property after renovations or the total of purchase price plus improvements, we’ll then revise the approved mortgage to reflect those costs. After you take possession, the money for your improvements will be released to you after work is completed as per the original proposal.
Acceptable Loan Purpose
  • purchase transactions up to 95% or refinances up to 80% loan to value
  • secondary properties
Eligible Properties cannot go over $1M
  • a maximum of four units with at least one unit occupied as the principal residence
  • new construction or existing properties
Purchase + Improvements = Happiness.
Buy. Renovate. Enjoy. Get the one mortgage that makes it all add up.
*5% on the first 500k, and 10% on the difference up to $1M. Minimum down payment on 3 to 4 units is 10%.

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