Purchase Plus Improvements
Mortgage Services In Canada
Have you found a home that needs some work to match your vision? A Purchase Plus Improvements Mortgage can help you bridge the gap between your dream home and a property that needs upgrades. At Diverse Mortgage Group, we’re here to simplify the process and guide you every step of the way.
What Is A Purchase Plus Improvements Mortgage?
A Purchase Plus Improvements Mortgage is designed for homebuyers who want to renovate or upgrade their property. Instead of taking out a separate loan for renovations, this mortgage lets you include the renovation costs in your overall mortgage amount.
Whether upgrading the kitchen, remodeling the bathroom, or modernizing the entire home, this solution provides the funds you need to turn your property into your dream home.
Our Comprehensive Services
At Diverse Mortgage Group, we make obtaining a Purchase Plus Improvements Mortgage in Canada as smooth and stress-free as possible.
Here’s how we help:
Expert Guidance
Our experienced team walks you through the entire process, from planning renovations to securing the funds.
Customized Solutions
We understand that every homeowner has unique needs, and we work to create tailored solutions for your renovation goals.
Wide Network of Lenders
Access competitive rates and terms through our extensive network of trusted lenders.
Hassle-Free Coordination And Eligible Renovations
We handle the details, including submitting quotes, managing lender requirements, and ensuring timely fund disbursement. You can also use a Purchase Plus Improvements Mortgage for many upgrades, including:
Why Choose A Purchase Plus Improvements Mortgage?
This type of mortgage offers several advantages for homebuyers who want to customize their property:
Streamlined Financing
Instead of managing multiple loans, you combine the home purchase and renovation costs into one mortgage.
Customizable Living Space
Turn any house into your ideal home by tailoring it to your needs and preferences.
Increased Home Value
Renovations often boost your property’s market value, making it a wise investment.
Lower Interest Rates
Your mortgage always has renovation costs covered and charges relatively lower rates of interest when compared to any personal loan or credit card.
How It Works
Getting started with a Purchase Plus Improvements Mortgage in Canada is easier.
Here’s a step-by-step guide to the process:
Find Your Property
Choose a home that fits your budget and renovation needs.
Plan Your Renovations
Work with contractors to get detailed quotes for the upgrades you want to make.
Apply for the Mortgage
Submit the quotes and renovation plans to your lender along with your mortgage application.
Approval Process
The lender will assess your renovation plans and approve the additional funds for improvements.
Close the Purchase
After closing, you’ll begin the renovation process with the funds set aside by the lender.
Access the Funds
Once the renovations are completed and inspected, the lender will release the funds to cover the costs.
What Our Clients Say
Start Your Home Transformation Today
With a Purchase Plus Improvements Mortgage, the possibilities are endless. Whether upgrading a dated property or making a new house feel like home, Diverse Mortgage Group guides you every step of the way. Contact us today to explore your Purchase Plus Improvements Mortgage Services options in Canada.
Let’s turn your dream home into a reality!
FAQ
Frequently Asked Questions (FAQs)
What is a Purchase Plus Improvements Mortgage?
It’s a mortgage product that allows you to finance both the purchase of a property and the cost of renovations under one loan.
How much can I borrow for renovations?
Typically, you can borrow up to 10%-20% of the home’s purchase price, depending on the lender’s policies.
When do I receive the renovation funds?
Funds are released after renovations are completed and inspected to ensure they meet the agreed terms.
Do I need renovation quotes for approval?
Yes, lenders require detailed quotes from contractors to approve the additional financing.
How can Diverse Mortgage Group help?
We simplify the process by helping you secure the best rates, coordinating with lenders, and ensuring your renovation goals align with your budget.
