Purchase Plus Improvement Mortgage in Canada
Quick answer
Quick answer (Canada): A Purchase Plus Improvement mortgage lets you add approved renovation costs to your mortgage at purchase. You provide quotes up front, we include the improvement amount in your approval, and funds are released after work is completed and verified. Insured and conventional options exist. We package once and make lenders compete so your holdback, timelines, and payments fit the plan.
See: Pre-Approval Guide · Home Inspection Checklist · Mortgage Payment Calculator · Closing Costs Guide
Consumer guidance for insured renovation programs is available from CMHC. Review current rules before you commit.
Buy the right home and fund smart upgrades in one approval. We compare 100+ lenders and structure the improvements holdback so cash flow stays smooth and closing stays on track.
Renovation Roadblocks, Clean Genesis Solutions
- Not sure how much you can roll in. We size the improvement allowance using quotes and program caps, then confirm payments with your comfort level.
- Worried about cash during the reno. Lawyer holdback and staged releases keep out-of-pocket low while work completes.
- Confusion on what upgrades qualify. We align quotes to lender and insurer rules so approval is smooth.
- Timing risk with possession dates. We map appraisal, quotes, and legal steps so closing is calm.
- Rate vs flexibility. We compare fixed, variable, and prepayment terms so you can renovate and still stay nimble.
- Unexpected costs. We model a buffer and show total cost vs alternative options like HELOC or refi later.
Why Choose Genesis Group for Purchase Plus Improvements
- 100+ lenders compared. Banks, credit unions, and insurer programs for PPI.
- Renovation savvy. Quotes packaged to policy and appraiser expectations.
- White glove process. Fewer asks, clear checklists, faster approvals.
- Timeline control. We coordinate appraisal, solicitor, and holdback release.
- Structure that fits. PPI vs HELOC vs refi modeled side by side for clarity.
5 Year - Fixed Term from
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Types of Purchase Plus Improvement Structures
Insured PPI for Owner-Occupied
Low down payment with eligible upgrades and post-completion verification.
Check eligibilityConventional PPI
Standard down payments, flexible quotes, and clear release steps.
See optionsPPI + HELOC Blend
Lock a base rate and keep a line for extras or surprises.
Design the blendEnergy-Efficiency Upgrades
Insulation, windows, and heating improvements aligned to program rules.
Plan upgradesPost-Close Holdback Release
Lawyer holds funds until inspection confirms completion.
Understand holdbacksRefi Later vs PPI Now
We model both paths so you choose the lowest total cost.
Compare strategiesTools: Payment Calculator · Affordability Calculator · Product Comparison · Stress Test Guide
How It Works
- Apply in minutes. Share your budget and renovation goals.
- Quotes and appraisal. We align quotes to policy and confirm as-improved value if needed.
- Approval with holdback. Improvement amount is added to your mortgage.
- Close calmly. Possession day proceeds as normal with holdback at lawyer.
- Complete upgrades. Verified by inspector or appraiser, then holdback releases.
Soft check • No impact on credit • FSRA-licensed
Discover the Key Benefits of Choosing Your Purchase Plus Improvement Mortgage with Genesis Group.
⭐⭐⭐⭐⭐ Experience Guaranteed
My partner and I have been in our first home for over a month now and we cannot thank Kirk and The Genesis Team enough! Kirk was patient, professional, supportive,... read more
stephanie B
01/13/2023Had a great experience dealing with Brittney. Fantastic communication and really worked for me and my needs. Will never go anywhere else for my financial needs
Mark Winter
11/13/2024As a first-time homebuyer, navigating the mortgage process can be incredibly daunting, but The Genesis Group made it not only manageable but truly rewarding. I had the distinct pleasure of... read more
Rohan Spence
05/13/2024I had a great experience with The Genesis Group. The process was smooth, with clear communication and competitive rates. Their team was responsive and helpful throughout. Highly recommend!
Breanna Bacik
09/13/2024The Genesis Group exceeded my expectations! Purchasing an investment can be a scary process especially during this unprecedented time. I had the pleasure of working with Kirk and his assistant... read more
S T
01/13/2023From the very first meeting to the joyous moment of receiving my keys, The Genesis Group, under the astute leadership of Kirk Bryan, has been nothing short of spectacular in... read more
Rohan Germain
01/13/2024Could not say enough about The Genesis Group. The level of dedication, professionalism, and knowledge is unmatched. When dealing with such a big life decision like buying a house -... read more
Maria Woychyshyn
11/13/2024Was a great experience working with Kirk and his team. They not only helped me refinance my mortgage on my house, they also assisted me in a commercial business acquisition.... read more
Sean P.
02/21/2024My husband and I had used Kirk and his team upon closing a deal on our home. We couldn’t be more happy with everything Kirk and Brittney have done for... read more
Laura Vescio
11/13/2024
Gain access to our vast network of 100+ lenders offering tailored residential mortgages to suit your financial needs.
Real results for Canadian homebuyers
First home with upgrades
Cosmetic renos rolled into the mortgage kept cash flow comfortable.
Read case studyScope planning
Quote alignment and staged releases kept timelines predictable.
Read case studyCompare paths
PPI vs refi modeled to choose the lowest total cost for the project.
More success storiesFrequently Asked Questions
What is a Purchase Plus Improvement mortgage in Canada and how does it work?
A PPI mortgage lets you finance approved renovation costs as part of your home purchase. You provide quotes up front, we include the improvement amount in your approval, funds are held back by the lawyer, and released after the work is completed and verified. We coordinate appraisal, insurer rules, and lawyer steps so closing stays smooth. See the Pre-Approval Guide.
How much can I add for renovations with a Purchase Plus Improvement mortgage?
The improvement allowance is set by lender and insurer policy, appraisal support, and your qualification room. We size the amount using written quotes and confirm payments with your comfort level. We will show total cost and alternatives if your scope is larger. Try the Mortgage Payment Calculator.
Which renovations are eligible for Purchase Plus Improvements in Canada?
Typical eligible items include kitchens, baths, flooring, windows, roofing, insulation, and safety or energy-efficiency upgrades. Personal or luxury items and work without proper invoices may be declined. We align quotes to policy and appraiser expectations so approval is clean. Review our Home Inspection Checklist.
How are PPI funds released and what proof is required after closing?
The improvement amount is held in trust by the lawyer at closing. After work is completed, the lender receives verification such as an inspector or appraiser confirmation and final invoices. On approval, the lawyer releases the holdback to you or the contractor per instructions. We coach you on timing and docs so release is quick.
Can first-time buyers use a Purchase Plus Improvement mortgage with an insured loan?
Often yes, when program rules are met. We confirm insurer eligibility, down payment requirements, and stress-test impact, then compare insured vs conventional so you choose the best fit. Read the Closing Costs Guide.
How does the appraisal handle “as-improved” value for PPI in Canada?
Lenders may request an appraisal referencing the planned improvements and quotes. Some programs rely on market support for the as-improved value, while others cap the improvement amount regardless of value lift. We order the correct valuation and brief the appraiser on scope to avoid delays.
How long do I have to complete renovations after closing with a PPI mortgage?
Timelines vary by lender and scope. We document the completion window in your approval and help schedule inspections so your release happens on time. If your project needs phases, we will plan a practical sequence with your contractor.
Should I use PPI, a HELOC, or refinance later for home renovations in Canada?
It depends on scope, timing, and rate outlook. PPI is efficient when you are buying now and want one approval and one payment. A HELOC offers flexibility for extras after closing. A future refinance can fit major projects once value is proven. We compare total cost and payments side by side. See the Product Comparison Guide.
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Ready to buy and upgrade in one clean approval. We will package your quotes, negotiate the market, and guide every step.
Soft check • No impact on credit • FSRA-licensed
