Renovating
my home

Renovating my home
So, you have decided to fix up your home the way you like it? Here are a few ideas and things to remember to get there!

What you need to remember before renovating

My budget

A budget is essential to figure out which renovations you can afford and when. It’s easy to go overboard! Try our tools or talk it over with one of our advisors: they can help you plan it all out.

Financing

When renovations lead to unpleasant surprises, we have solutions. Loans, lines of credit and even your mortgage that is up for renewal can help you pay for it.

Large purchases

There’s no shortage of expenses when it comes to renovating! Think of choosing a credit card that gives you a return on your purchases. Perfect for making your many visits to the hardware store more profitable!

How can I pay for my renovations?

Your savings come in handy when it comes to small jobs. But where do you start when it comes to larger renovations? Here are a few financing solutions that will help you get started.

Getting a personal loan

Borrowing to renovate

The simplest way to pay for your renovations is to borrow:

  • Weekly, bi-weekly or monthly payment options
  • Possibility of a full reimbursement without penalty
  • Fixed or variable rate according to the amount and duration of the loan
  • 1 to 5-year terms
Getting a line of credit

Choosing the personal line of credit

For quick financial support, a line of credit is very useful and more flexible than a loan:

  • Amount according to your financial situation
  • No credit application required
  • Variable interest rate according to your amount
  • Very flexible payment mode and frequency
  • No expense justification required as long as the amount authorized is respected

Choosing the Versatile line of credit

The Versatile line of credit is like a personal line of credit, but the value is based on the refinancing value of your house:

  • You can use the amount at the frequency you want
  • No new request for authorization is required after the initial request
  • The interest rate is lower than that of the personal line of credit
  • Very flexible reimbursement
Use your mortgage renewal

Add an amount to renovate

When the time comes to renew your mortgage, you can add an amount to your loan for your renovations:

  • An amount that corresponds to the value of your renovations
  • The reimbursement is included in your mortgage loan payment
  • Advantageous interest rate

The right credit card to renovate

The Cash Back, Classic, Elegance GOLD and Modulo GOLD cards would be good choices to help you with your projects: their rewards programs are generous and their rates are low!

Protecting your investment

If you borrowed to pay for your renovations, make sure you can reimburse them even if you are injured or have health issues. Consider our credit insurance: that’s what it’s there for.

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Questions?

Our advisors are here to help from start to finish with your renovations.

Make an appointment