Mortgage Plus Improvements

Letting Your Home's Equity Work for You

Are you considering renovating your home? Our Mortgage PLUS Improvements program is designed to assist you!

With our program, you can access the full value of your home at low-interest rates. At Main Street Mortgages, we offer two options to help our clients improve their home’s value.

This option is a simple refinance, where you can access up to 80% of your home equity to pay out your existing mortgage. The remaining funds can be used for renovations. If there isn't enough money left for renovations, we move on to option 2.
This option involves applying for mortgage financing for 80% of your current home value plus the cost of improvements. The lender will hold back on closing the improvement portion of the mortgage until the work is completed and inspected, typically within 30 to 60 days of closing. Once the work is done, the lender will instruct the lawyer to release the balance of the funds to pay the contractor or you.

The Mortgage Plus Improvements option is also available when purchasing a home, allowing you to finance 95% of the purchase price plus the cost of renovations.

Mortgage Plus Improvements

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