Can I get a mortgage to purchase a home?

Yes; subject to qualification. In fact, even purchasers with 5% down may qualify to buy a home and make improvements to it. For high-ratio financing, both Canada Mortgage and Housing Corporation and Genworth Capital, insured mortgages are available to cover the purchase price of a home as well as an amount to pay for immediate renovations or improvements that the purchaser may wish to make to the property. This option eliminates the need to finance the renovations or improvements separately. Some conditions apply.
Where the improvements are cosmetic, the mortgage loan insurance premium is unchanged from the standard schedule. For information on mortgage loan insurance premiums see high-ratio home mortgage financing.

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