Services / Renewals & Refinancing / Home Equity / Renovations
Whether it's a kitchen, a basement suite or an addition, your home's equity can help pay for it — often at a much lower rate than a personal loan. We help you choose the right way to fund your project.
Home Equity / Renovations at a glance
Guide
Options
Borrow up to
Rental suites
Plan
*Depends on your situation, the property and lender or program rules.
Clear communication at every step, so you always know what's happening next.
Share your plans, quotes and timeline with us.
We recommend the right structure for your project.
We handle the appraisal and lender approval.
Funds are released as a lump sum or in stages as work is completed.
A few key points we'll walk through with you before you make any decisions.
Buying a fixer-upper? Some lenders let you add renovation costs to your mortgage at purchase, with funds released once work is done.
Adding a rental unit can bring in extra income. Some programs allow higher borrowing for legal secondary suites — ask us about current options.
Lenders often want contractor quotes up front. Having them ready speeds things up.
Don’t see your question here? Give us a call — we’re happy to talk it through.
A HELOC gives you flexible access and you only pay interest on what you use. A refinance can offer a lower fixed rate. We'll compare both.
It depends on the program. Some release funds after an inspection; others give you the funds upfront.
Purchase-plus-improvement programs may help at purchase. For existing homes, we'll look at all options.
This page is for general information only and isn’t financial advice. Mortgage rules, program limits and lender requirements change and depend on your situation; all financing is subject to lender approval. Koru Financial Group Inc. — FSRA Brokerage #12726.