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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.
Mortgage Alliance, 1200 Derry Rd, Suite 22
(647) 869-0053
skoturic@gmail.com
Susie Koturic | Lic# M13000075
Mortgage Alliance - Mortgage King (Brokerage)
Brokerage Licence #12455