Mortgage Intelligence

Oshawa's Mortgage News Desk!

Buying a fixer upper? Protect yourself from “sink or swim” renovations!

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DB15036_reno_78281188So you’re one of those buyers who absolutely loves older homes: the character, the unique architecture, the settled neighbourhood… and maybe the great value. But even older homes with “great bones” sometimes need a little renovation to turn them into the home of your dreams. Unfortunately, sometimes on top of the home purchase price, a few costly renovations can sink you.

Good news. We’ve got a mortgage to keep you happily afloat.

We can bundle the cost of those immediate renovations right into the mortgage: so instead of sky-high credit card and line of credit bills… you’ve got your mortgage and renovations looked after in one easy monthly payment.

It’s called a “purchase plus improvements” mortgage. It covers the sale price of the home, plus any renovations that would increase the value of the property, up to $40,000. You also get pre-payments – so you can pay off your renovation faster.

Contact the team at MiMortgage.ca.We can take you through the process, so your mortgage and renovations go… swimmingly.

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Author: mimortgage.ca

David Hetti is a full time Mortgage Broker with Mortgage Intelligence (FSCO Lic MO8002434) David is the Director of Operations at Mortgage Intelligence Oshawa and heads a team of full time licensed Mortgage Agents serving all of Ontario. David is also a licensed Insurance Consultant.

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