Buying
Purchase plus improvements mortgages with Team Active Mortgage
Found a home with potential? A purchase-plus-improvements mortgage lets you include renovation costs in the mortgage, based on the home's value after the work is done. Our brokers explain the quotes, holdbacks and timelines lenders require.
Who this is for
- Buyers who want to update a kitchen, bathroom or flooring
- Buyers of older homes needing repairs
- People who would rather renovate than overpay for move-in ready
How our brokers help
- Explain which improvements lenders typically allow
- Help you gather contractor quotes in the format lenders need
- Coordinate the holdback and release of funds after the work
Common questions
How are renovation funds released?
Typically the lender holds the funds back and releases them once the work is completed and inspected.
Can I do the work myself?
Lenders usually require quotes from contractors. Ask your broker about your specific plans.
Is there a limit on renovation costs?
Yes, limits vary by lender and program. Your broker will confirm what applies.
Related services
Ready to talk it through?
Book a no-obligation call or start a short pre-application.