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Home Renovation Program!!! Renos included in your mortgage!

With the Spring Market here!  I thought I would take some time to highlight a simple Home Renovation Program and my Refinance plus Improvement Program. By utilizing this program you can create your Dream Home!! 

Step 1: Purchase your home with a detailed list of improvements, including a contract outlining the scope of work and cost estimates.  An appraisal is then needed to show the “as is” value and “improved” value.

Step 2: My lender advances the entire improvement value with the mortgage amount  to your solicitor at closing, and you have 90 days to complete work. 

Step 3:  Once renovations are complete, a simple inspection to confirm that the work has been completed is required. No receipts needed!  Your solicitor then releases the funds back to you!

Improvement Amounts:

Low Ratio:    $40,000 or 10% of value of property.

High Ratio:   CMHC allows $40,000, to a max of 10% of the "as improved" value.

Genworth allows 20% of "as is" value, to a max of $40,000

 Create your Dream Home!   Call today for More details!!!


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