CMHC’s Purchase-Plus Improvements Mortgage allows homebuyers to roll immediate renovation costs into their mortgage.
Find an affordable home in need of TLC and transform it into that perfect home you always dreamed of; with new bathrooms, kitchen, and hardwood floors. Add the estimated costs of the renovation to your mortgage at the time of purchase to finance the entire renovation transformation without having to wait!
CMHC Mortgage Loan Insurance can help you to obtain financing for up to 95% of the appraised value after renovations with only 5% down payment for both the purchase of your home and the renovations.