Home Renovation Financing and Mortgages
Most Toronto additions are funded with a mix of cash, a HELOC and a refinance, not a construction mortgage. Only one or two of every ten projects we build use construction financing, and on milestone financing the homeowner carries the first 25 to 40 percent of the construction value before the lender releases a draw. Here is how the money actually arrives, and when to start planning.
As a top General Contractor in Toronto, BVM Contracting has worked with clients that have accessed renovation financing from a variety of sources. One great way to access renovation financing AND do right by the environment for your next home renovation is with The City of Toronto’s Home Energy Loan Program (HELP). This program allows eligible homeowners to access up to…
