Canadian mortgages insurers, Sagen and CMHC (Canada Mortgage and Housing Corporation) offer insured mortgages that include the added benefits of funding for home improvements. The Purchase Plus Improvements Program helps qualified home buyers add home improvement costs to their mortgage with as little as a 5% down payment. This feature allows borrowers to make improvements to their home immediately after taking possession.

Whether you need a new roof, a state-of-the-art kitchen or a backyard sanctuary, your mortgage will be based on the purchase plus the improvement costs up to the qualified percentage of the purchase price.

WHAT DO YOU NEED TO PROVIDE?

• Offer to purchase
• Contractor’s estimated costs for Kawartha and your insurer to review 
• Pre-approval from the insurer and Kawartha 

HOW DOES IT WORK?

• Funds will be held in a renovation account and will be disbursed as needed. You will be required to submit receipts for the construction work or repairs.
• An appraisal may be required before and after the repairs.
• A timeline to complete renovations/improvements must be provided (usually a 3 month timeframe.)

WHAT ARE THE BENEFITS?

• Upon approval, a Purchase Plus Improvements mortgage allows you to buy a home, renovate it to your liking, and pay for it all in one mortgage payment. This flexible product enables you to not only buy a home that's more affordable because of the updating required, it also allows you the freedom to customize your renovations.
• One payment under your mortgage without the need for additional lending solutions such as a line of credit or credit cards to fund the renovations.

WHY CHOOSE THE PERFORMANCE PLUS PROGRAM?

• Easier access to home ownership and home equity
• Purchase and upgrade a home to meet your unique needs 
• Add renovation costs into the mortgage for one easy, manageable payment

THINGS TO CONSIDER

• Are you planning on making your home energy-efficient?
• What would your dream home include?
• Are you planning on making renovations to your home?
• What upgrades would you like to make?

Types of improvements possible:

• Flooring upgrades
• Kitchen and/or bathroom updates
• Windows and doors
• Basement finishing
• Roof replacement
• Family room upgrades
• Energy-efficient upgrades

THE PURCHASE PLUS IMPROVEMENTS PROGRAM TURNS A HOUSE INTO A HOME!

Make an appointment with us today and we’ll help make your dreams a reality.