Whether you're renovating at renewal, pulling equity mid-term, or financing a construction project, our brokerage finds the right structure across 70+ lenders — before you commit to anything.
Matthew will review your information and reach out within 2 business hours to walk you through your options.
The right path depends on your timeline, your existing mortgage terms, and the size of your project. Our brokerage reviews all three and recommends the one that costs you the least.
If your mortgage is up for renewal within the next 4–12 months, renewing at a higher principal is the most cost-effective path. You access equity without a prepayment penalty, roll the renovation into one mortgage payment, and shop 70+ lenders at the same time.
Best for: Planned renovations, any project that can be timed to your renewal date.
A home equity line of credit (HELOC) is a revolving credit product secured against your home. Draw what you need, when you need it — ideal for phased renovations where costs come in over months. Interest is charged only on what you draw, not the full limit.
Best for: Phased renovations, kitchen and bathroom projects, work that happens in stages.
When a project is time-sensitive and your renewal is 18+ months away, a second mortgage or early refinance can access equity now. There is a cost — either a prepayment penalty or second mortgage rate — but sometimes the project economics justify it. We run the math first.
Best for: Urgent or large projects where waiting for renewal isn't practical.
Mid-to-large interior renovations that increase property value. Often best handled by a HELOC at existing mortgage or rolled into renewal, depending on scope and timing.
Garage additions, living space extensions, basement suites, garden suites. Larger projects that may qualify for construction-draw structure. Rental income from legal suites can count toward qualification with select lenders.
Building on your existing land or a purchased lot. Construction mortgages fund in stages (draws) tied to build milestones, with interest-only payments during construction and conversion to a regular mortgage at completion.
Heat pumps, insulation, windows, roofing, solar. Upgrades that increase home value and reduce carrying costs. Some programs offer additional incentives that can be layered on top of mortgage financing — we flag these when they apply.
A construction mortgage releases funds in stages as your build progresses, rather than in a single lump sum. This protects both you and the lender — funds are only released when milestones are confirmed.
During construction, you typically pay interest only on the amount drawn. When the build is complete, the mortgage converts to a standard amortizing product. Not all lenders offer construction mortgages, and those that do have different draw schedules, inspection requirements, and qualification criteria.
Our brokerage identifies which lenders are actively working with construction projects in your area, matches their draw schedule to your contractor timeline, and submits your application when approval is highly likely — before you've committed to a build contract.
Know your maximum budget and financing structure before you finalize plans or sign a contractor agreement. Changes mid-build are expensive.
Our brokerage maps the lender's draw schedule against your contractor's milestone timeline to avoid funding gaps that delay construction.
You pay interest only on amounts drawn, keeping carrying costs manageable while the build is in progress.
When the Certificate of Occupancy is issued, the mortgage converts to a standard amortizing product. We lock in the best available rate at that point.
There are three main paths: (1) If your mortgage is up for renewal, you can renew at a higher principal and access equity penalty-free. (2) Mid-term, a HELOC lets you draw funds as needed during a renovation — interest charged only on what you draw. (3) A second mortgage or refinance can access equity mid-term when speed matters more than cost. A mortgage broker compares all three options and finds the structure that fits your project size and timeline at the lowest overall cost.
Yes. At renewal, you can increase your mortgage principal to cover renovation costs without a prepayment penalty. When purchasing, a purchase plus improvements mortgage rolls renovation costs into the mortgage at closing. Both are available through our brokerage across 70+ lenders. Our brokerage identifies which lender offers the best principal limit and rate for your specific project and property value.
A construction mortgage funds a new build or major addition in stages (draws), releasing money as construction milestones are met rather than all at once. Interest is typically charged only on amounts drawn. It converts to a standard amortizing mortgage at completion. Not all lenders offer construction mortgages — our brokerage identifies those that do and matches the draw schedule to your contractor timeline.
A HELOC is a revolving credit line secured against your home — draw and repay as needed, ideal for phased renovations. A second mortgage is a lump sum at a fixed term, usually at a higher rate than a HELOC but easier to qualify for when equity is limited or credit is imperfect. Our brokerage reviews your renovation scope, timeline, and financial profile to recommend which product costs you less overall.
Yes — and you usually don't need to break your mortgage to do it. A HELOC or second mortgage can be added as a separate product without touching your existing mortgage terms. If your renewal is within 12 months, waiting is often more cost-effective than paying a prepayment penalty. Our brokerage runs both scenarios and shows you which approach costs less for your specific situation.
As a general guideline, most lenders allow total secured debt (mortgage plus any HELOC or second product) up to 80% of your property value. Alternative lenders may go higher in some cases. The realistic maximum depends on your current mortgage balance, your property's current appraised value, and your overall debt profile. Our brokerage reviews your position across multiple lenders to identify what's actually available for your project.
Yes — and secondary suites have become a priority segment for many lenders. Adding a legal secondary suite can increase your property value, and rental income from the suite can count toward mortgage qualification with select lenders. Our brokerage identifies which lenders offer the best structure for suite additions and whether rental income can be used to improve your qualifying position.
Likely yes — most lenders require an appraisal to confirm current property value before approving equity access. This is typically a standard appraisal ordered through the lender's approved panel. Our brokerage coordinates the appraisal process and ensures the order goes to the right lender for your application, avoiding delays or duplicate fees.
One conversation covers your project scope, financing options, and what you actually qualify for — before any commitment is made.
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