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CMHC Purchase Plus Improvements Estimator

Estimate your financing power with the CMHC Purchase Plus Improvements program. Add renovation costs to your mortgage (up to $40,000 or 10% of the improved value, whichever is less).

Property Details

Improvements must be permanent fixtures (e.g., roof, kitchen, flooring).

Purchase Plus Improvements Summary

"As-Improved" Value: $540,000

Maximum Eligible Renovation Amount
Cap applied (lesser of $40k or 10% of As-Improved Value)
$40,000
Required Down Payment
Based on total As-Improved value
$27,000
Base Mortgage Amount
Before CMHC insurance premium
$513,000
CMHC Insurance Premium
Added to mortgage
$20,520
Total Final Mortgage Amount $533,520
Important Canadian Rule: You must pay the contractor out of pocket (or via a temporary line of credit) first. The lender only releases the renovation funds after an appraiser confirms the work is 100% complete.

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