The Canadian Home Renovation Program

The Canadian Home Renovation Program

Get Up to $40,000 to Make Improvements to Your Next Home!

A little-known program could help you get cash to turn your next home purchase into your dream home purchase!
Borrow money for home improvements and roll it into your mortgage

Make Your Next Home Your Dream Home.
Borrow up to $40,000 for improvements and roll everything into one mortgage.

If you’re looking to buy a home – whether it’s your first home, your next home or a brand new home – it can be tough to find the perfect property that’s within your budget, in the right location, and with everything you want. You have a long list of “must have’s”… In an ideal world, you’d find a home that has everything you’re looking for and under budget too. But it’s rarely an ideal world.

You have probably seen a number of homes that are close to perfect. Do you want to settle? Well, you might not have to.

What if you could get some additional money to make that “almost perfect” into your perfect home?

Here’s the good news

There’s a little-known government program, which allows you to get financing up to 10% of the total purchase price (to a maximum of $40,000) towards making improvements/renovations to a home you intend to buy. The mortgage advisors at Verico iMortgage Solutions can show you the details of just what is involved.

This could open up a whole new world of opportunities when you’re looking to buy a home! You can use the extra money to renovate the kitchen, bathrooms, basement or more – pretty much any improvement you want. You could even get some extra cash to do something as simple as paint the home and change the carpets.

This means you can turn an OK home into your perfect home with a few renovations!

This is one of the best ways to purchase a tired home below market value and build automatic equity by updating it and making it perfect for you and your family. And you can roll all the costs into just one mortgage.

Renovations made easy

You might feel that renovating a house before you move in is just too daunting. Even if you can get the money to do the work, you might be worried about the headaches of designing the improvements and organizing contractors. It can all seem too scary and overwhelming.

We know trusted designers and contractors

We know of several properties now available, which qualify for additional financing under the Canadian Home Renovation Program. These homes are in good locations, close to good schools, and they would benefit from some additional improvements, such as a new kitchen, new bathroom or larger garage.

So, you might be thinking, “Yes, we’ll save money and buy the home that needs renovations but we’ll tackle them sometime in future…” The reality is, it’s much more difficult and disruptive for your family to renovate after you’ve moved in. Why not do everything up front, get your dream home at the outset and move into something you can live in happily for many years?

We have seen so many clients purchase a home, then take years to renovate it to their specifications. By the time they finish, they end up selling and buying their next home. They don’t get to enjoy all the renovations and hard work they put into it. Our advice? Get the home, make it perfect and enjoy it for years to come.

Thanks to the Canadian Home Renovation Program, you can customize any of these homes just the way you want! And, best of all, you can do the improvements before you move in!

We can also put you in touch with trusted interior designers and contractors who can help you with your proposed improvements. The renovation process really can be stress-free!

You could get a new bathroom like this for $12,000 and pay just $56 extra per month as part of your mortgage.

You could get a new bathroom like this for $12,000 and pay just $56 extra per month as part of your mortgage.

New windows

Upgrade your windows and doors for $9000 and add just $42 per month as part of your mortgage.

New garage

Build a new garage for $15,000 and pay just $70 per month extra as part of your mortgage.

Example Costs For Home Renovations

1. New Kitchen – $20,000. Roll it into your mortgage and pay just $93.66 per month extra.

2. New Bathroom – $12,000. Adds just $56.19 per month to your mortgage.

3. New Windows and Doors – $9000. Add the cost to your mortgage for just $42.15 per month.

4. Basement Renovation – $40,000. Roll it into your mortgage for only $187.31 per month.

5. New Garage – $15,000. Include it in your mortgage for just $70.24 per month.

6. New Flooring – $5000. Adds just $23.41 per month to your mortgage.

If you want more information on this program call/text the Verico iMortgage Solutions team at (403) 870-2669 or fill out the form on this page.

Frequently Asked Questions About the Canadian Home Renovation Program

Q. Do you have properties in Calgary that are pre-qualified for the Canadian Home Renovation Program?
A. Yes. Contact us for a list of properties that are already pre-qualified, or show us a property you’re thinking of buying and we can show you how this property can qualify for the Canadian Home Renovation Program!

Q. Do I have to pay a higher interest rate to use this program?
A. No, this program has no impact on the interest rate you will receive. In fact, we will likely find you a better rate than you have been offered by the big banks. Contact us for more details.

Q. How much money can I save using the Canadian Home Renovation Program?
A. This program works best for those who don’t have extra money saved to renovate their new home but have a need or desire to complete the renovations shortly after purchase. If you review the cost of using personal lines of credit, credit cards or a loan and compare that to rolling all the costs of the renovation into your mortgage, you will see quickly that for most Canadians the real option is to either use the mortgage to pay for the renovations or not do them at all.

Contact Verico iMortgage Solutions Now

For more information on how the Canadian Home Renovation Program works, contact us or fill out the form on this page.

P.S. You don’t have to wait forever for your dream home. We can help make your renovations stress-free. You can have your perfect home sooner than you think!

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