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If you have found a home that is the perfect size and shape but needs some changes from the inside out, a Purchase Plus Improvement mortgage might be ideal for you.

This may be the most underrated mortgage of all. Finding a house that is faultless in every way for your particular taste is extremely rare. Having the ability to make adjustments to that “close-to-perfect” house is all you need to move into your dream home.

Once we pre-approveyou for this mortgage, you are free to shop around while knowing that you have a budget to tweak, change and improve whatever home suits your needs best. When you find that home and get an offer accepted, we will advise you to get a contractor to quote the project you have in mind.


Lenders will generally finance up to $40,000 in improvements.


Your mortgage specialist at Oceanvale Mortgage & Finance will submit the quote to the lender for approval and as long as you are not doing any major structural changes, we should be able to breeze past this step.

You will have to pay for all of the work up front or find contractors that are ok to invoice you because an inspector needs to come view the changes, once completed, to ensure they were done as quoted. Once that step is finished, you will receive the approved funds for the improvements.

Letting us pre-approve you for a Purchase Plus Improvement mortgage will open up an entirely new world of home shopping. It will make you look at your potential purchase in a whole new light because you will know that you have the resources to change things that otherwise might drive you away. 

Here's a short video to help you understand these mortgages better!

Call us or visit us to discuss this further and let us figure out your home purchase and home improvement budget.