Purchase Plus Improvements

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Purchase Plus Improvements

purchase plus improvements - GoToBrokers - leduc mortgage brokers - picture of stephanie Does the home you want to purchase check all the boxes, but a few things are missing? We have the perfect program to assist you. Purchase plus improvements have become extremely popular with home buyers.

We can add to your purchase price up to 10% or $40,000 dollars of extra dollars to accommodate your upgrades.

How our lenders put this together:

  • You will acquire a quote from the contractor or from a hardware store providing you with the material
  • You will tell us exactly what improvements you wish to complete
  • We will add these dollars to your new mortgage
  • We will have the lawyer hold these dollars in trust for you
  • Once the work is complete an appraiser will come out and confirm completed
  • Your lawyer will refund you the dollars held in your trust

A few questions:

How long do I have to complete the purchase plus improvements?

From the date your mortgage closes, you will have 180 days to complete the work in the quote for the improvements

How is the purchase plus improvements included in the mortgage?

We add the exact dollars to the purchase price then we take off the down payment. For example:

$400,000 Purchase price
$40,000    Improvements
$440,000 Total
$22,000    Down payment  5%
$420,000  plus CMHC fees

GoToBrokers is here for you and will be more than happy to assist you. Our lenders are very familiar with this mortgage program. Reach out today and we will be happy to answer any of your questions.

purchase plus improvements - GoToBrokers - leduc mortgage brokers - picutre of jeep

Highly Recommended

Find out why hundreds of others choose GoToBrokers as their Alberta mortgage broker of choice.

Stephanie is amazing to work with! She was patient, kind and very professional. Stephanie was there every step of the way, answering any questions or concerns we had with buying our first home. Highly recommend!

Janette T

Stephanie went above and beyond multiple times through are mortgage process , amazing job . Would highly recommend

Kyle I

Extremely satisfied with Stephanie’s brokerage services. She found the best rates and actioned priorities in a timely fashion. I highly recommend Stephanie at Dominion Lending Centres.

Joshua R

Buying a home is likely one of the single largest purchases you will make in your lifetime. It is also an investment in your family’s financial future – an investment that needs to be protected.