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Wondering how to pay for your home renovation?

Rita Cousins Senior Mortgage Advisor • March 11, 2022

Are you contemplating hardwood floors, a new kitchen or energy efficient solutions for your
existing or new home? Are you wondering how to pay for this renovation project?

Take a look at these affordable financing solutions to renovate the home of your dreams!

MORTGAGE
REFINANCING

Take advantage of record low interest rates and spread your renovation financing repayment over a long period of time by refinancing your mortgage.

BENEFITS:

Borrow up to 80% of your home’s appraised value (less any outstanding mortgage balance).
Pay less interest than credit card or personal loan rates
Access funds immediately
Suitable for large scale renovations

FINANCING IMPROVEMENTS UPON-PURCHASE

Finance your renovation project at the time of a new purchase by adding the estimated costs to your mortgage with CMHC Mortgage Loan Insurance. You can obtain financing with only 5% down payment for both the purchase of your home and the renovations for up to 95% of the value after renovations!

BENEFITS:

Funds advanced for up to 95% of the value after renovations
No additional fees or premiums for progress advances
Competitive interest rates
CMHC issues premium rebates for Energy saving renovations

SECURED LINE OF CREDITE & HOME EQUITY LOANS

Use a secured line of credit or
home equity loan to pay for your renovation. Securing your renovation loan against the equity in your home can typically be up to 80% of the property value; accessible at
any time.

BENEFITS:

Lower interest rates than non secured financing
Access funds at any time
Interest only payments

Talk to your mortgage broker today to review your renovation financing options!

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By Andy Schildhorn • February 18, 2025

Looking for the latest Langley and Fraser Valley real estate market trends? Wondering if now is the right time to buy or sell a home in Langley, Surrey, or Abbotsford? This video breaks down sales trends, home prices, and what to expect this spring. 📉 Sales are down 📈 Inventory is rising 💰 Buyers have more negotiating power But with spring approaching, interest rate cuts expected, and growing inventory, what’s next for Fraser Valley’s housing market? 📊 What’s Covered in This Video? ✅ Langley & Fraser Valley Home Prices: Detached, Townhomes & Condos ✅ Is It a Buyer’s Market? What You Need to Know ✅ Economic Factors Affecting Fraser Valley Real Estate 🏡 Buying or Selling in Langley or Fraser Valley? Let’s Talk! If you’re considering buying or selling a home in Langley, Fraser Valley, or surrounding areas, I can help you navigate the current market trends, pricing strategies, and investment opportunities. 📊 Full FVREB Market Stats → bit.ly/FVREB-Stats 📅 Book a Call → https://calendly.com/andyschildhorn 📞 778.835.8957 📧 [email protected] 🌐 www.AndytheRealtor.com 📺 Subscribe for Weekly Langley & Fraser Valley Real Estate Updates! 🔔 Like, Subscribe & Ring the Bell for More Market Insights! Thanks for watching—see you in the next video! 👋

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