Mortgage refinancing for funding renovations, will allow you to extend your repayment over a longer period of time than lines of credit and may be a better option for you.
Third option is what is called improvements upon-purchase financing. It is added at the time of your mortgage application while purchasing your property provided you have an estimated value of the renovation costs.
Welcome to our world - Where mortgages are only the beginning!
Mortgage Alliance, 1200 Derry Rd, Suite 22