ID Connections

Help give your clients their dream home

Published by Sarah Bradbury, March 18, 2015.

IDC affinity partner SAFEBRIDGE Financial Group offers mortgage advice and complimentary legal fees to help your clients realize their renovation dreams.



With warmer weather on the way, many homeowners are looking to redesign their homes. Whether they have lived in their home for many years, or have recently purchased a fixer-upper, there are ways that you can help your client budget accordingly for those renovations.

To afford renovations, many homeowners can look to the equity that they have built up in their property over the years. A borrower can look to increase their mortgage, add a line of credit, or opt for a Refinance Plus Improvement Mortgage. In any case, a homeowner can borrow up to 80% of the value of their property, plus 80% of any additional renovation costs.

In today’s current rate market, a person who wants to do a $50,000 renovation could be looking at paying as little as $200 per month.* 

For homeowners looking to do renovations right away on a newly-purchased property, a Purchase Plus Improvement Mortgage can be an incredibly helpful option. In this case, a homeowner can borrow up to 95% of the “new and improved” value of the home. This allows for improvements to be made immediately after possession with the cost of the renovations already rolled into the mortgage.

If your client has goals of home renovation, you can help guide them and make their dreams come true! Have them speak to their mortgage adviser to get their budget in place so you can help them prioritize their upgrades. And as part of our affinity partnership with IDC, SAFEBRIDGE Financial Group offers complimentary legal fees of up to $750 per mortgage transaction.


Kelly (Drinkwater) Buckingham
Mortgage Agent, SAFEBRIDGE Financial Group
kelly@safebridgefinancial.com
416.554.6696. 

 

 



* Based on current rates and client qualifications. This article provides a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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