Confirm feasibility
Review zoning, permits, scope, contractor budget, and timeline.
Property improvement strategySTRATEGY / 05
Build utility, income potential, and long-term flexibility into the property.
Coordinate purchase or refinance capital with renovation budgets, permits, appraisal requirements, and potential rental-income treatment.
05SecondarySuiteFinancing
How the strategy works
A deliberate sequence from scenario to execution.
Choose the funding path
Compare cash, purchase-improvement, refinance, HELOC, alternative, or private structures.
Document the work
Maintain contracts, invoices, permits, inspections, and appraisal support.
Stabilize the property
Complete the suite, confirm compliance, and document rental income where applicable.
Example scenario
Illustrative—not a promise.
A homeowner with equity adds a permitted secondary suite, comparing a refinance with a renovation-oriented product while maintaining contingency for construction changes.
Potential paths shown are educational only. A Pro Mortgage Group advisor will review your complete application to determine available financing options.
Financing options
Purchase Plus Improvements
Mortgage refinance
HELOC
Renovation loan
Alternative or private financing
Potential benefits
Potential additional housing utility
Potential rental income
A more flexible long-term property
Important considerations
Permits and legal-use requirements matter
Projected rent may not be fully accepted for qualification
Renovation cost and appraisal outcomes can change
Qualification factors
Feasible construction plan
Eligible property
Budget and contingency
Borrower qualification and equity
Frequently asked questions
Questions worth asking before commitment.
01Can projected rent help me qualify?+
Some lenders may consider a portion of supportable rental income, but their method and documentation requirements vary.
02Do I need permits?+
Local requirements apply. Confirm zoning, permits, inspections, and legal-use requirements with the municipality and qualified professionals.
Secondary Suite Financing
Financing is only useful when it serves the plan.
Build My Mortgage StrategyMortgage approval is subject to lender qualification, credit review, property eligibility, income verification and applicable lending guidelines.