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Are you eyeing your dream home in Ontario but worried about the potential renovations it may need? Dominion Lending Centres has the perfect solution for you – the Purchase Plus Improvement Mortgage. This innovative financing option allows aspiring homeowners in Ontario to not only purchase a property but also fund necessary renovations or upgrades. Let’s delve into the details of how this mortgage product works within the guidelines and laws of Ontario.

Understanding Purchase Plus Improvement Mortgages

A Purchase Plus Improvement Mortgage is a unique financial tool that enables homebuyers to include the cost of renovations into their mortgage, eliminating the need for additional financing or personal loans. This type of mortgage is particularly beneficial when the property requires upgrades to meet the buyer’s preferences or when there are essential repairs needed.

How It Works

  1. Property Assessment: Before diving into the mortgage process, it’s crucial to conduct a thorough assessment of the property and identify the necessary improvements. Dominion Lending Centres works closely with clients to understand their renovation needs and estimates the costs involved.
  2. Mortgage Approval: Once the property and renovation costs are determined, the buyer applies for a Purchase Plus Improvement Mortgage through Dominion Lending Centres. The mortgage amount is then approved, taking into account both the purchase price and the estimated renovation expenses.
  3. Renovation Fund Holding: After the mortgage is approved, the additional funds required for renovations are held in trust until the work is completed. This ensures that the funds are used solely for the intended purpose.
  4. Completing the Renovations: With the mortgage in place, homeowners can begin the renovation process. It’s essential to adhere to local building codes and regulations during this phase, ensuring that all improvements meet Ontario’s standards.
  5. Inspections and Disbursements: Upon completion of each stage of the renovations, Dominion Lending Centres will conduct inspections to verify the work. Once approved, the funds are disbursed accordingly. This phased approach ensures that funds are released only when the work is completed as per the agreed-upon plans.
  6. Enjoying Your Dream Home: With the renovations completed, you can now enjoy your dream home without the stress of additional financing or personal loans. The cost of improvements is seamlessly integrated into your mortgage, offering a convenient and cost-effective solution.

Ontario Guidelines and Laws

Purchase Plus Improvement Mortgages in Ontario are subject to provincial guidelines and laws. Dominion Lending Centres ensures that all transactions comply with the regulations set forth by the Ontario government and financial authorities. This includes adherence to the Ontario Building Code, municipal bylaws, and any other relevant regulations governing property renovations.

Additionally, Dominion Lending Centres works closely with clients to educate them about their rights and responsibilities, ensuring transparency throughout the mortgage process. Clear communication and compliance with Ontario laws are integral to providing a seamless and legal Purchase Plus Improvement Mortgage experience.


With Dominion Lending Centres, purchasing your dream home in Ontario and transforming it to meet your vision is more accessible than ever. The Purchase Plus Improvement Mortgage offers a streamlined and cost-effective way to finance both the purchase and renovation of a property. By adhering to Ontario guidelines and laws, Dominion Lending Centres ensures a transparent and compliant process, empowering homeowners to create their ideal living spaces. If you’re ready to turn your dream home into a reality, contact Dominion Lending Centres today and explore the possibilities with Purchase Plus Improvement Mortgages.