Equivalent to a 203k Loan in Canada

[Sean Prokopec]

Is anyone aware of a similar program offered by the Canadian feferal government or Ontario provincial government to the FHA 203k Loan?

Or any kind financing available for a second property where the cost of renovations are included in the mortgage?

Thanks, Sean.

[Matt Geerts]

@Sean Prokopec,

 All of the big banks do it here. We just call it a "Purchase plus improvements mortgage". The terms are a little different at each lender, but @Nick Thompson explained the most common. Usually you have to bring contractor quotes ahead of time, and you pay the renos yourself and get paid back as you prove each one.