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Purchase Plus Improvements Programs – What are the Benefits of a Purchase Plus Improvements Mortgage? ((#010)

Purchase Plus Improvements Programs

Do you know if you’d benefit from a purchase plus improvements mortgage? Do you know how the process differs from regular loans? If you’re not sure why you should participate in this type of program, then you might be missing out on the home of your dreams.

The Semiahmoo Peninsula has limited properties available due to the high demand. First time buyers who opt in for the benefits of a purchase plus improvements mortgage have more options for home buying. Does this sound like something your family could do?

If you’re interested in learning about mortgages to help renovate your home, then invest 10 minutes for this edition of the Mortgage Newscast where your host Erik Reynolds interviews Jared Dreyer - accredited mortgage professional, and president of Drayer Group Mortgages, a proud member of the Verico Brokers Network about the purchase plus improvements programs.

Finding a home in a tight market is difficult. The Vancouver Sun* says that by including homes in need of renovation, your horizons broaden considerably. This interview is an opportunity to learn the benefits of a purchase plus improvements mortgage for doing just that.

Why a Purchase Plus Improvements Program Is for You

The episode kicks off with Jared explaining why home buyers might participate in the purchase plus improvements program. He also details how this program differs from a traditional home loan.

This loan involves extra paperwork, which could make planning tricky in today’s fast-moving market. This loan is the primary option for some home owners looking to buy their family’s next place to live.

If you aren’t sure if the benefits of a purchase plus improvements mortgage are right for you, then you could be missing out on a golden opportunity for home ownership.

How to Know if This Program Is Right for You

Then Jared talks about whether or not this program is something he recommends for all home buyers. He also answers these questions:

  • What are the restrictions if I want to use this program?
  • Can I use the program for all types of home improvements?
  • How do I know how much of a down payment to have?

Now ask yourself two questions. Do you want to buy and renovate a home? Are you ready to save money by fixing up a fixer-upper home? If you answered “Yes” to either of these questions it’s time to think about benefits of a purchase plus improvements mortgage.

How Purchase Plus Differs from Traditional Mortgages

Next Jared goes on to explain the different requirements from lenders that make this different from a standard home loan. He also details when funds are released and who releases them.

Before you can enjoy the benefits of a purchase plus improvements mortgage, first you must meet the requirements. Knowing exactly what’s expected of you at each stage of the process can help you meet them.

The episode wraps up with Jared sharing a few last thoughts on what he calls “a fantastic program” for home buyers trying to get into the market for the first time.

Is a Purchase Plus Improvements Mortgage for You?

Do you want to enjoy the benefits of a purchase plus improvements mortgage? Could you use some help buying a home that needs a little work? Listen to the whole episode now, then share your questions and home buying experiences below so we can discuss them with you.

After you finish listening to this informative podcast, please contact Dreyer Group Mortgage Brokers at 1.800.687.9020 or apply with us using our 30 Second Application. We look forward to hearing from you!

Start your Purchase Plus Mortgage Application in 30 seconds :

Dreyer Group Mortgage Brokers
#308 – 15252 32nd Avenue
Surrey, BC
V3S 0R7

Phone #: (604) 536-3802

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Twitter: @JaredDreyer