Financing a Buy & Renovation: Personal Home

[Michael Daharsh]

Hello BPers, 

I am looking to buy a fixer-upper in North Bay and need to finance both the mortgage and the rebuild. It won't be a complete tear down and start new, but will cost around $400-$500 k in repairs and expansion, while the home will cost around $1.1M to buy. 

My question is which is the best financing option for something like this? Will bank finance or use Fanniue Mea on loans this big? 

Michael