The Canadian Renovation
Funding Program

Back to Top of Page
Loan Advisory Service

In 2011, The Canadian Renovation Funding Program was established to oversee the Renovation Co-op’s complex series of Subsidy & Rebate Programs, while providing a free advisory to clients who require financing.

The program consists of an elite team of retired and semi-retired finance specialists, each having their own successful careers within specific areas of Financial Services, including Residential & Commercial Mortgage Financing, Investment Banking, Private Mortgage Financing and Construction Loans.

The program also includes experts from the Insurance and Legal Service Industries, with combined expertise in Real Estate Law, Home & Personal Insurance, Eldercare Law, Immigration, Divorce & Family Law, Bankruptcies and Criminal Law.

By providing such a vast range of financial expertise, The Renovation Co-op helps facilitate the flow of business between its registered clients and member service providers.

Free Loan Advisory Service

Recommendations to Co-op-Approved Brokers & Related Professional Services

The Funding Program has recently introduced a free Loan Advisory Service offered exclusively to registered clients of The Renovation Co-op.

Upon the client’s request, a Program Specialist will identify and recommend a specific, Co-op-Approved Mortgage Broker or other Financial Service Provider who regularly specializes in the type of loan product that best fulfills the client’s requirements.

This targeted “pinpointing” of a broker’s unique experience greatly increases the client’s chances of quickly obtaining the most appropriate type of loan that fits his or her needs, and not the other way around.

Co-op-Approved Brokers

All Co-op Approved Mortgage Brokers are highly-skilled, career-minded professionals, whose customer loyalty and personal dedication will always be directed toward their client, and not the lender.

And, as each of our recommended brokers are self-employed business owners, when it comes to long-term relationship-building it is you (the client) who actually becomes the broker’s “employer.” And the only way for the broker to retain that long-term “employment” with you, is to always act in your best interest…and not that of a bank’s or other institution’s.

Nonstop Learning…

As new mortgage loan products continue to become more complicated, mortgage brokers must always maintain a vigilant, watchful eye over the industry, always seeking opportunities and/or information that may further help their clients obtain the best mortgage rates, terms and loan conditions.

In fact, most Renovation Co-op-Approved Mortgage Brokers have the highest attendance record in the industry when it comes to participating in financial forums and special loan product briefings.

For many typical, “less-engaged mortgage specialists, this effort has become too hard a challenge.

However, The Renovation Funding Program recommends only serious, career-minded mortgage specialists who are already highly motivated to grow and excel within their own professional levels of financial expertise.

Note: As a registered client, you will always have permanent access to this free advisory service, and you will never be obligated to purchase any services offered through The Renovation Co-op.

However, if you purchase a loan (for any purpose), a credit of $10,000 will be deposited into your Renovation Credit Account.

Renovation Credit Accounts

When you first contact The Renovation Co-op, a Renovation Credit Account is automatically created, with a starting balance of “$0“.

Note: The following information can also be found at Subsidy & Rebate Programs

Sample Credit Account:

When you purchase a Co-op-Approved Service (not including Renovations or Architectural Services) a substantial credit will be added to your Credit Account balance.


Mortgage Loans

When you purchase any type of mortgage product (eg. Refinancing, Debt Consolidation, Construction Loan, Line of Credit, etc.) through a Co-op Approved Mortgage Broker, a credit of up to $2,500 will be added to your Renovation Credit Account.

Real Estate Transactions

When you buy or sell your home through a Co-op-Approved Realtor, you will receive a credit of up to $3,500.

Note: All Renovation Credit Accounts are fully Transferable:

Upon the sale of your home, you may transfer the full balance of your Renovation Credit Account to the next owner, or you may keep the account to use toward future renovation projects at your next property.

The ability to transfer your Renovation Credit Account to a potential buyer of your home provides an attractive, additional feature that may help close the sale.

For further information see Subsidy & Rebate Programs.

Accounting & Bookkeeping Services

When you hire a Co-op-Approved Accountant or Bookkeeper, a credit of $5,000 will be deposited into your Renovation Credit Account

Features of the Renovation Credit System:

* Cumulative Balances:

All credits that are added to your Renovation Credit Account Balance are cumulative and will remain within the account until such funds are eventually applied toward renovation purchases (as per Co-op policy).

* Available for all Projects

Renovation Credit can be applied towards any type of General Contracting or Architectural Project when purchased through a Co-op Member-Contractor or Architect/Designer.

* Transferable Balances:

As mentioned above, you may opt to transfer the balance of your Renovation Credit Account to the next owner, or give it away as a gift to a friend or relative. You will receive a Certificate of Transfer with the person’s name on it (as displayed above).

Sample Estimate:

In the example above, the allowable amount of renovation credit that can be used towards the is 3% of the Final Sale Price.

The standard amount of Renovation Credit that can be used towards any type of project is 2% of the Final Sale Price.

However, The Co-op occasionally provides special Incentive Programs, where a higher percentage of the Final Sale Price can be applied to specific projects such as Kitchens, Bathrooms, Basement Apartments, etc. (as long as there are enough funds are in the client’s Renovation Credit Account).

Applying for a Mortgage…


Over the past 15 years, we’ve had to sit back and watch helplessly as our clients struggled to obtain financing for renovations, which normally requires some form of secured equity financing, including the re-structuring of a mortgage and/or consolidation of debts.

Lately however, mortgage borrowing has become an even more complicated issue than it has been in past years.

And with the dozens of individual mortgage products being constantly introduced by the various types of lenders across Canada such as the Chartered Banks, Credit Unions, “Alt-B