Combine eligible renovation costs directly into your mortgage financing rather than arranging separate borrowing later.
Found a home with great potential but needs a few upgrades before it truly feels right? A Purchase and Improvement Mortgage allows you to finance both the home purchase and renovation costs together under one mortgage solution.
Mike Boniferro is a trusted Mortgage Broker in London, Ontario helping home buyers secure Purchase and Improvement financing tailored to their goals, renovation plans, and budget. Whether you’re updating a fixer-upper, modernizing an older property, or creating a more functional living space, this mortgage solution can help make renovations more affordable from the beginning.
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A Purchase and Improvement Mortgage combines the purchase price of a property and approved renovation costs into one mortgage. This allows home buyers to purchase a property and complete upgrades shortly after taking possession.
Mike Boniferro helps buyers across London, ON understand Purchase Plus Improvement financing clearly while guiding them through the mortgage and renovation approval process step by step.
Combine eligible renovation costs directly into your mortgage financing rather than arranging separate borrowing later.
Complete important renovations shortly after possession instead of delaying upgrades due to financing limitations.
Strategic renovations may improve both functionality and future property value.
A Purchase Plus Improvement Mortgage can help buyers create a home that better fits their lifestyle, needs, and long-term goals.
Finance both the property purchase and approved renovations under one mortgage.
Start renovations shortly after closing without needing separate high-interest financing.
Transform the property into a home that matches your personal style and functional needs.
Renovations and upgrades may increase both comfort and long-term resale value.
This financing option may open opportunities to purchase homes that need cosmetic or functional improvements.
The process is designed to help buyers finance renovations efficiently while purchasing their property.
Your mortgage application includes both the purchase price and renovation estimates.
Once approved, the property purchase closes normally while renovation funds are held back temporarily.
Renovations are completed within the lender’s required timeline after possession.
An inspection may confirm the completed work before remaining renovation funds are released.
Purchase Plus Improvement financing can be used for a wide range of approved renovation projects.
Buying and renovating a home should feel exciting — not overwhelming. Mike Boniferro helps guide you through every stage of the Purchase Plus Improvement process clearly and confidently.
We discuss your home buying goals, renovation plans, budget, and financing options to determine whether a Purchase Plus Improvement Mortgage is the right fit for your situation.
Once you find a property, contractor quotes for the planned improvements are gathered and reviewed alongside your mortgage application and financial details.
Your mortgage is structured to include both the home purchase price and approved renovation costs, helping simplify financing into one convenient mortgage solution.
After closing, renovations are completed within the lender’s required timeline so you can move into a home that better matches your lifestyle, needs, and long-term goals.
A quick consultation can help you better understand Purchase Plus Improvement mortgage options, renovation eligibility, and financing strategies before purchasing your home.
Purchase Plus Improvement financing involves coordinating both mortgage approval and renovation planning. Working with an experienced Mortgage Broker helps simplify the process and reduce unnecessary stress.
Mike Boniferro helps buyers across London, Ontario structure mortgage solutions that align with renovation budgets, timelines, and long-term financial goals.
| Transparent communication | Clear explanations without confusing financial language. | |
|---|---|---|
| Fast responses when timing matters | Questions answered quickly so you can move confidently. | |
| Local Ontario market understanding | Support tailored to real buyers in London and surrounding areas. |
Trust matters when you’re making one of the biggest financial decisions of your life.
Explore local mortgage support tailored to your area.
A short conversation can help you understand your options, reduce uncertainty, and create a mortgage plan that fits your life.
Understand the terms that best suit your financial situation.
Learn about different amortization options and how they impact your payments.
Compare multiple lenders to find the best rates and options for you.
The rates quoted below represent a standard baseline interest rate for a prime rate mortgage. Please contact Mike to find out what you qualify for, and about exclusive and promotional rates.
Ready to secure the best mortgage for your new home? Contact Boniferro Mortgages today for a free consultation to make the home-buying process as stress-free as possible.
