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Right Home. Wrong Kitchen? Purchase-Plus-Improvements Financing Explained.
October 3, 2026 | Posted by: Craig Nickerson
A dated kitchen or worn flooring doesn't necessarily mean crossing a home off your list.
What purchase-plus-improvements financing can cover
Purchase-plus-improvements financing may allow qualified buyers to include eligible renovation costs in their mortgage when purchasing a home.
Depending on the lender and project, improvements could include kitchen or bathroom updates, new flooring, a roof replacement or heating-system upgrades.
Plan before the purchase closes
The key is planning before the purchase closes:
• Obtain detailed renovation quotes.
• Have the proposed work approved as part of the financing.
• Understand the completion deadline and how renovation funds will be released.
How the renovation funds are paid out
Funds may be held back until the work is completed and verified, so you may need money available to cover costs upfront.
Your down payment and qualification are assessed using the purchase and improvement figures under the applicable program. Adding renovations also increases the amount you borrow.
Found a home with potential? Let's review the financing before you make an offer. Whether you're a first-time buyer or planning renovations to a home you already own, we can help you plan the numbers.
Call or text Craig at 613-394-5810 or email craig@simpligomortgages.com.
Subject to lender and insurer approval, property valuation and program requirements.
