Purchase Plus Renovations in Vancouver, BC

Looking for Purchase Plus Renovation?

Have you fallen in love with a home that may need some TLC? There’s a solution for you to pay for your renovations, using only one mortgage. With as little as a 5% down payment you can get the financing needed to make a fixer-upper into your home sweet home.

There is even a similar program available for refinances that is great for homeowners that do not quite have enough equity that can be used for upgrades.

These programs are particularly popular for homes that need kitchen or bath upgrades, and for houses with partially completed basement suites.

We’ve written a great article about the program.

The program is meant to make a home that is in a great location just a bit better by renovating what you don’t like. However, you can also use the program to make an “unmortgageable” home mortgageable again by improving things like old wiring or asbestos piping.

The Pinsky Home Buying Process

We’re looking forward to providing you with the mortgage advice and service all of our clients and referrals have come to expect.


Review lenders, mortgage options, and mortgage types

Not all mortgages or lenders are created equal. We will go over available mortgage options and highlight the features you may want based on your future financial goals.


Determine a timeline for your purchase

Your purchase timeline dictates whether a pre-approval should be started or, if you have a home under contract, a firm approval should be processed right away.

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Submit required documentation

Your pre-approval is contingent upon lenders having your income documentation, down payment confirmation, and your credit bureau.


You and your Realtor will analyze your needs, wants and priorities for your new home

Determine the type of home you are interested in purchasing. Your Realtor will help you find and rate properties based on criteria you create together.


Tour properties with your Realtor

After looking at properties, you will find a home that fits your needs.


You and your Realtor decide on a desired purchase price

The sellers will either accept, reject, or counter your offer. This process will go on until a mutual agreement is met.

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Provide property information to Pinsky Mortgages

Submit your closing contract, MLS listing, Property Disclosure Statement and Form B with its attachments.


Mortgage submission and your 3 Unique Mortgage Bids

With a closing date in mind, we will be able to provide you with 3 competitive mortgage bids for your mortgage. Your initial pre-approval will be included in your options.


Property due diligence

Have the home inspected by a qualified home inspector, read the strata minutes (if applicable), and become acquainted with any other relevant property information. At this time, an appraisal may be required by the lender.


Make arrangements

Make arrangements with your:

  • Conveyancing lawyer or notary
  • Home insurance specialist
  • Personal insurance specialist
  • Movers or book your moving truck
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Completion Day

On the completion day, your lawyer will handle the money and title transfer on your behalf.