Purchase Plus Improvements

You found a home. Now make it your own.

No matter how big or small your renovation plans are, the Purchase Plus Improvements Mortgage can take your home from to-do to ta-da.

There is no maximum amount for your renovation, as long as it and the purchase of the home both fit within your budget. Start making improvements right after taking possession of your purchased property.

Features and Benefits


Convenience
Buy a home, renovate it to your liking and pay for it all in one mortgage payment.



Upgrade Immediately
Start your improvements the moment you take possession of the property.




Low Interest Rate
Borrow at a low rate with as little as a 5% down payment.

Let's talk.

How It Works

No matter how big or small your renovation plans are, this mortgage can take your fixer-upper from to-do to ta-da. There is no maximum amount for your renovation, as long as it and the purchase of the home both fit within your budget.


Eligible Properties

  • Up to four units where one unit is owner-occupied
  • New construction covered by a lender approved
  • New Home Warranty Program
  • Existing resale properties
  • Readily marketable residential homes, located in markets with demonstrated ongoing re-sale demand
  • Estimated remaining life of the property should be a minimum of 25 years
  • Minimum of $10,000 required for the home improvements and renovations

How to Apply

Book a conversation with a CUA representative using the form above and we’ll reach out to review options and next steps, including meeting a Financial Advisor and get pre-approved for your mortgage.

This will help you determine how much you can afford, for both the home and the renovations. For example, if you have a budget of $250,000, you can choose a house that costs $185,000, which will then make your renovation budget $65,000.

You can also connect with a member of our team at your branch or by calling our Customer Contact Centre at 902.492.6500.