Helen Singleton - Mortgage Advisor

11/11/2025

11/07/2025

The FHSA is a powerful tool for first-time buyers: you get tax-deductible contributions and tax-free withdrawals for a home purchase.
• Up to $8,000/year, with $40,000 lifetime max
• If unused, can roll into an RRSP
Curious if you’re eligible? Reach out to me and I’ll check.

11/05/2025

Did you know first-time home buyers in Canada have access to multiple government programs to save thousands?

Over the next few weeks, I’ll break them down so you don’t miss out. Stay tuned!

10/29/2025

The Bank of Canada lowered the policy rate by a quarter-percentage-point to 2.25 per cent. This is the bank’s second consecutive cut.

10/28/2025

Home improvements can increase the appraised value of your property by enhancing its condition, functionality, or aesthetic appeal. The appraiser will evaluate the projected impact of the improvements on the property’s value when determining how much additional mortgage financing is justified.

10/22/2025

The funds for the improvements are released upon completion of the work as outlined in the contractor quote. In some cases, lenders will release funds in draws, as work is completed. Funds are released after confirmation of work completed by a third party appraiser.

10/20/2025

You can usually add improvements as part of a new mortgage application, especially if you’re buying a home. If you already have a mortgage, you may need to refinance your existing mortgage or take out a separate loan to cover the cost of improvements, depending on your lender’s policies.

10/09/2025

Eligibility depends on factors such as:
* Your credit score and financial stability
* The appraised value of the home before and after improvements
* The lender’s loan-to-value (LTV) ratio policies
* Availability of detailed quotes for the planned improvements
* Proof of income and ability to afford the higher mortgage payments

10/07/2025

Eligible improvements generally include structural repairs, renovations, or upgrades that increase the value of the home. These can include:
* Kitchen or bathroom remodels
* Roof repairs or replacement
* Adding a new room or extension
* Energy efficiency upgrades (e.g., new windows, insulation)
* Electrical or plumbing updates
Cosmetic upgrades, such as painting or furniture, typically do not qualify.

10/03/2025

With a Purchase Plus Improvements loan, the borrower can obtain additional financing for renovations as part of the mortgage. Lenders require a quote or estimate for the improvements, which are then factored into the loan amount. The lender releases the funds for the improvements in stages, often after verifying the completion of the work. A borrowers down payment is calculated based on the new total of Purchase price + improvements. Ex. $500,000 + $100,000 = $600,000
 
Down payment is calculated based on the $600,000 and not the purchase price of $500,000.

10/01/2025

A Mortgage Plus Improvements is an insured mortgage productthat allows homeowners to borrow additional funds, beyond the purchase price or value of their home, to finance renovations or improvements. The extra funds are included in the mortgage, allowing for a single loan with a combined purpose of purchasing the home and covering the costs of approved upgrades.