• The purchase price plus the actual cost of improvements, or,
• The 'as improved' market value. Prior to approval, CMHC will determine the market value of the property after renovations or improvements. The lending value will not exceed the market value of the property after the renovations or improvements.

Successful applicants must meet the following criteria:

• A minimum of 5% down payment of the total cost (purchase price plus renovations or improvements).
• Cost estimates for renovations or improvements.
• Qualifications to obtain a CMHC-insured loan through an approved lender

Example:

Purchase Price	$100,000
Renovations or Improvements Costs	$25,000
Total Cost	$125,000

Where the loan-to-value ratio is greater than 90%, the maximum house price in Toronto including the cost of improvements is $250,000.

TaraRosen.com can make this dream a reality for many first-time home buyers. With strategic partnerships in the field of contracting and renovating as well as access to CMHC approved lenders, we can handle and coordinate your Purchase Plus Improvements project from start to finish.