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Can You Finance Renovations On Your New Home?

When you are purchasing a home, every dollar counts. What happens if you find the perfect location, but the house is not quite up to your standards?


Canada Mortgage and Housing offers a product where you can buy a home and get extra money in order to improve it.

When you take apart the numbers, it sure can be worth it!

Example 1:
Purchase Price $350,000
5% Down Payment = $17,500   NOT IMPROVED.


Purchase Price $350,000
Improved Value = $385,000 (10% of Price or $40,000, whichever is less)
5% Down Payment on Improved Price = $19,250    You get $35,000 HOUSE IS IMPROVED! (and family is happy!)

Difference on the mortgage payment at 2.49% = $154/mo.

Visit my website to find out how much you could qualify for.

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