Purchase Plus Improvements is a type of mortgage that allows homebuyers to finance both the purchase price of a property and the cost of eligible renovations or improvements in a single mortgage loan.
You buy a home that may need some work—new floors, a kitchen upgrade, or a roof repair—and the lender gives you extra funds (based on approved quotes) to complete those renovations, all rolled into your mortgage.
One mortgage for both purchase and renovation
Lower interest rate than most personal loans or credit cards
Commonly used by first-time buyers and those purchasing older homes
Funds for improvements are typically released after the work is completed
Replacing outdated kitchens or bathrooms
New roofing, windows, or insulation
Flooring or structural repairs
Minor additions or accessibility upgrades
This mortgage option is often offered by major lenders under different names, and availability or limits can vary by location.
Let Blue Water Mortgage be your guide to smarter, simpler home financing.
Unit 11, 83 Galaxy Blvd.
Etobicoke, Ontario
M9W 5X6
Bhavin Patel
Mortgage Agent Level 1
Tel: 647-502-8069
Office: 647-260-6302
[email protected]
