Exciting Developments for Purchase Plus Improvement Opportunities!

CMLS Financial’s Purchase Plus Improvement Program allows prospective homeowners to renovate their new property immediately after possession. This allows those shopping for a new home to make either minor or major changes to a property to meet their current wants and needs. 


With the Purchase Plus Improvement Program, homeowners have the additional benefit of increasing the property value and potentially helping with future resale value. 





Update / Renovate Kitchen 

Update / Renovate Bathrooms 

New flooring (hardwood, carpet laminate) 

New paint 



Finish / Renovate the Basement 

New Patio or Deck 

New energy efficient Windows / Doors 

Addition of Garage 



 Product Parameters 


• Allows up to a 20% increase of the Purchase Price by a max of $40,000. 

• Available on insured mortgages only, client pays Insurance at all LTV’s 

• Owner occupied properties only 

• Maximum LTV 95% for purchases of properties with 1-2 units 

• Maximum LTV 90% for purchases of properties with 3-4 units 

• Commitment period of 120 days is available 

• Maximum amortization of 30 years for LTV up to 80% and 25 years for LTV over 80% 

• All terms available: 1,3,5,7, 10 year fixed rate as well as 3 and 5 year adjustable rate 

• Down payment is based on the “as-improved” value which is used to determine maximum LTV 

• Genworth requires their Renovation Worksheet to be completed at time of submission 




• A list of all improvements along with contractor cost estimates and quotes are required to support the increased value and must be provided at the time of application. 

• The initial advance of funds to the customer will be up to 95% of the as improved value of the property minus the cost of the improvement. 

• The solicitor will hold the balance of the funds “in trust” pending completion of the improvements to the property. 

• Release of funds held in trust will occur upon confirmation from the customer/solicitor that the improvements have been completed as per the original quote/contract provided at time of application. 

• A final inspection may be required to ensure completion of the scheduled improvements. 


Please give me a call to discuss how this information can help you with your next home! You can reach me at 604-415-9800.

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