Buy a home with potential and renovate it with one simple mortgage.

​

Does the home you want to purchase need renovations? A Purchase Plus Improvements mortgage allows you to buy a property that needs work and finance the renovations within a single, manageable mortgage.

 

At Frontline Mortgage Group, we help home buyers complete improvements right after possession, without taking on separate loans or high-interest credit.

 

​

What Is a Purchase Plus Improvements Mortgage?

 

This program is designed for buyers purchasing a home that requires updates or repairs. Renovation costs are added to your mortgage so you can complete the work immediately after closing, while keeping one predictable monthly payment.

 

​

Acceptable Loan Purposes

​

• Purchase transactions up to 95% loan-to-value (LTV)

• Refinance transactions up to 80% LTV

• Amortizations available up to 30 years

 

​

Eligible Properties

​

• New construction or existing homes

• Up to four units, with one unit occupied as your principal residence

 

​

How the Process Works

​

Step 1
Find a property and identify the renovations required. Have a general idea of the scope of work and estimated costs.

 

Step 2
Frontline Mortgage Group secures an approval based on the property’s as-is value. You then obtain firm, written quotes detailing the work to be completed.

​

Step 3
Your mortgage approval is revised to include the approved renovation costs.

​

Step 4
You take possession of the home and begin renovations. In most cases, work must be completed by licensed contractors.

​

Step 5
Once renovations are complete, the lender sends a representative to confirm the work meets the approved specifications.

​

Step 6
Renovation funds are released through your lawyer, as instructed by the lender.

​

​

Important Notes

​

• Mortgage interest rates are not affected by this program

• Firm renovation quotes are required before possession

• Renovation funds are released only after work is completed and verified