Start Your Mortgage Plus Improvements
If you are looking for a mortgage plus improvements or if you’re building a home we have solutions available.
Whether you are using a contractor or building a home yourself. We have plenty of building and construction mortgages available.
Starting at 5% down payment fill out this form to have Alex Lavender provide you with the best rates possible.
Fill out this form to get in touch today.
Inquire Here:
Mortgage Plus Improvements Process
#1 Apply Here
The first step is to apply with a mortgage broker to find out what your options are. You need to provide all of the quotes for the work being done up front. This amount is then added into the total amount to be mortgaged. Some items that are removable from the house or do not increase the home value will not be accepted ie. appliances.
#2 Receive Your Approval
After the mortgage funds you have 90 days to complete the work listed in the quotes. You must then provide paid invoices or have an inspection report done at your cost to verify the work has been completed.
#3 Receive Your Money!
After the lender approves that the work has been done the money will be released from the lawyers so you can reimburse yourself for the costs.
Construction Mortgage FAQs
Can you add renovation costs to a mortgage?
Yes! You can add renovation costs to a mortgage by using a mortgage broker and agreeing with the lender on the improvements allowed. If your improvements are going to increase the value of your home, then you have a great shot at getting an approval with us.
How does mortgage plus improvements work?
Mortgage plus improvements adds the estimated cost of renovations to the amount of your mortgage loan. This provides you with cash upfront to fund improvements on your house. While keeping you on the same consistent mortgage payments.
Can you get a mortgage for more than the purchase price?
A high-ratio mortgage in Canada lets you borrow up to 95% of your home cost. Talk to Alex Lavender your mortgage broker today to learn how you can do this.
Construction Mortgages
Mortgage Plus Improvements
Want to include the cost of home renos in your mortgage? You can get a mortgage plus improvements for up to 20% of the purchase price or $40,000.
This product adds the cost of renovations to your mortgage. Allowing you to improve your home, and roll it into your monthly payments.
Building & Construction Mortgages
If you need a construction mortgage for building a new home then you’re in the right place. Our team can provide residential loans for you to build your dream home from scratch.
Read Our Testimonials
I’ve been a client of Alex Lavender and Clinton Wilkins team for a few years now and if you’re looking to buy your first home or have any questions at... read more
Debra Boucher4/17/2021
I couldn't speak more highly about Alex Lavander. We received the best possible support from Alex. Not only did he arrange all my papers with incredible precision and punctuality, but... read more
Novella Nicchitta2/26/2021
We bought our first house in September 2020. As a first time home buyer as well as a newcomer, we had so many questions. Even during a pandemic, Alex was... read more
G. Izmırlıoglu12/17/2020
Mortgage Broker Info:
- FREE to use, we work for you, not the banks. Giving you the ability to choose between multiple lenders and compare rates side by side.
- Mortgage expertise, by working with a variety of lenders we have all the experience you need. We’ll do the heavy lifting to let you choose the loan that is the best for you!
- Efficient, we use your information to pull real mortgage approvals from multiple lenders. You can get mortgage rates from all the banks and lenders all in one place.
Meet Alex Lavender:
Alex Lavender is and Accredited Mortgage Professional (AMP) the author of “Mortgages For Millennials” and has been providing services as a mortgage specialist for years.
He takes pride in helping Nova Scotians purchase their first homes, refinance their current homes, or obtain a loan when no other options are available.
Alex listens to your situation and uses the necessary information to provide you with a variety of options from different lenders, including the big banks.
Mortgage Approval Types
Personal
- Private lenders for your house
- Short term lending solutions
- We provide a large selection of lenders
- Less than 600 credit score requires 20% down payment
Self Built Mortgage
- Roll your renovation costs into your mortgage
- Up to $40,000 of renovations
- 120 days to complete the work
- Not available for appliances
Construction Mortgage
- Contractor built construction mortgages
- Use as little as 5% down
- Minimum 650 credit score