Purchase + Improvements
One mortgage. One plan. Endless possibilities.
At Better Mortgage Select, we know the perfect home isn’t always perfect on day one. Whether it’s a dated kitchen, worn-out floors, or a home with incredible potential, our Purchase + Improvements solution helps you finance both the property and its improvements—together in one seamless mortgage.
Forget juggling personal loans or high-interest credit lines after moving in. With our approach, your vision for the home is built into your mortgage from the start.
What is it?
A Purchase + Improvements Mortgage allows you to:
Buy a home
Get the financing you need to purchase your ideal property.
Finance approved
renovation costs
Borrow extra funds to upgrade your home right from the start.
Wrap it all into one monthly mortgage payment
Keep things simple with a single, consolidated payment.
The result? A home that fits your lifestyle from the beginning—with no need to dip into your savings to make it happen.
What can be included?
This program covers a wide range of value-enhancing improvements, including:
- Kitchen or bathroom updates
- Flooring, lighting, drywall, paint
- Energy efficiency upgrades (windows, insulation, HVAC)
- Basement finishing or accessibility enhancements
- Built-in appliances (when part of contractor quote)
Note: Landscaping, pools, decks, and detached structures aren’t eligible—
but we’ll help you get clarity on what is.
Who it's perfect for
Buyers eyeing homes that need a cosmetic or structural refresh
First-time buyers trying to stretch their budget creatively
Clients seeking to build equity through smart,
upfront renovations
Anyone buying a home that’s close—but not quite
move-in ready
How it works (Our streamlined process)
1. Find the property
Spot a home with great bones but dated finishes? That’s your target.
2. Get professional quotes
Before applying, we help you collect itemized quotes from licensed contractors. These are required for lender approval.
3. One mortgage application
We present your total financing request (home + renovation budget) to the right lender—packaged for approval from day one.
4. Close, move in, and renovate
After the purchase closes, you take possession and begin your improvements.
5. Inspector signs off
Once the work is complete, a lender-appointed inspector confirms the renos match the original plan.
6. Funds are released
Your legal team distributes the renovation funds, and you’re all set—with a beautifully upgraded home and just one mortgage payment.
What you should know
- Renovation funds are reimbursed after work is complete
- You’ll need upfront access to funds or contractor financing
- Improvements must typically be completed within 90–120 days
- You still qualify for the same competitive rate as any standard purchase
- Quotes must be firm, detailed, and submitted with your application
Pro tip: Our team can help connect you with contractors who understand the inspection and compliance requirements lenders expect.
Why work with Better Mortgage Select?
Not all lenders—or brokers—get this process right. We do.
We work with multiple lenders offering this product—not just one bank
We know which renovations get approved (and which don’t)
We build approval-ready files so there are no surprises at closing
We coordinate every step of the
process, so you don’t have to
One mortgage. Big possibilities.
Cover your purchase and renovations from day one.
Unlock potential. From day one.
If your dream home needs a few upgrades—or you’re shopping for value in a competitive market—this program lets you transform a great buy into your ideal space without extra loans or headaches.
Let’s talk. Our team is here to help you turn that “almost” home into the one you love—on your terms.