Did you know about the CMHC  Purchase Plus
Improvement Mortgages?

Example: Your realtor introduces you to a property that requires basement finishing or upgrading.

The estimated cost of the basement renovations is approx. $40,000. The current appraisal value and sale price of the home is $400,000. Instead of the standard 5% down on the $400,000 ($20,000), a Purchase-Plus Improvements Mortgage lets you place 5% down on the future value of the home ($440,000) which includes the cost of the basement renovations.

Cost of Home:

$ 400,000

Standard Down Payment (5%)

$ 20,000

Projected Cost of Renovations:

$ 40,000

Approved Future Value:

$ 440,000

Total Down Payment (5%):

$ 22,000

 

To pre-qualify for a Purchase-Plus Improvements Mortgage call: Marc Belzile 604-898-9550

Sea To Sky Mortgages marc@seatoskymortgages.com.

 

 Mortgage Information

If you're like most buyers, a home is the most expensive purchase you'll ever make, and you'll probably need some form of financing.

There are many lending institutions that offer a variety of mortgage products. Financing options and rates can vary widely, so it is important to do your research and shop around to ensure you get the mortgage that best meets your needs at the best price.

I would be happy to refer you to some very good mortgage contacts I have in Garibaldi Highlands, or to help you in any other way I can to secure the best possible rate for your home purchase.

 

Mark Belzile 604-898-9550 marc@seatoskymortgages.com

 

 

Use the mortgage calculators below to assist you in making some decisions around financing your new home.

Mortgage Qualification Calculator

This calculator will help you determine how much money you qualify to borrow. The results are informal. You will be subject to a credit approval from your financial institution taking into consideration existing debt load, amount of down payment, income and other variables.

Mortgage Payment Calculator & Amortization Table

This calculator will help you determine what your mortgage payments will be based on purchase price, interest rate and mortgage term, as well as other factors. The amortization table shows what the interest and principal payments will be over the term of the mortgage.