Fine Homes in Nine Oh Five
  Re/Max Realty Specialists Inc., Brokerage
Independently Owned and Operated
   
 
betty@bettybart.com
905 828-3434
 
 
 
 
Mortgage Info
 
Purchase Plus Improvements Mortgage

For Buyers

Include Your Improvement Loan with Your Mortgage Payments

www.bettybart.com/Home RenovationsIt is important that you limit the improvements amount to $25,000, otherwise it becomes a construction draw mortgage which is very complicated.

 This means that the total improvement value of your home can be $330k + $25k = $355k and your total improvement mortgage would be 80% of that = $284,000.

 Note that you can still submit contractor quotes for more than $25,000, however your request should be limited to this amount to keep it simple and within the program.

 For more information on this topic, fill out the sign-up form below with correct contact information and I will connect you with Dan Balfour who has provided this above information in short form.

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Independently Owned and Operated
 
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