Renovating Your Home and Other Projects

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Renovate Your Home

Do you want to do major repairs on your home? Maybe you just want to spruce it up.

No matter how big or small your renovation project, National Bank can help. We provide financing solutions >geared to your renovation needs.

Our solutions for your renovations

The tables below provide information on our financing solutions1.

Major Renovations

National Bank
All-In-One BankingTM1

Mortgage Loan

Advantages




Flexible repayment options.

Access the funds at any time2 via:

       cheque
       ABM
       in-branch withdrawal
       electronic banking3
       Interac® direct payment

Get a single amount that can be used to finance all your renovation work.

Finance your renovations using your mortgage loan, but under separate repayment terms.

Repayment






Repay at your own pace. Minimum monthly payment is interest (and insurance premiums where applicable).

Fixed payments are automatically debited from your account on a set date (weekly, bi-weekly or monthly).

You can select your repayment period to suit your budget and cash inflows.

Loan amount

You can borrow up to 80% of the value of your property (minimum loan is $25,000).

You can borrow up to 80% of the value of your property4 (minimum loan is $5,000).

Eligibility

You must be the owner of the property.

You must have 20% equity in the property.

You must be the owner of the property.

You must have at least 20% equity in the property.

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Small and Medium-Sized Renovations

Home Improvement Line of Credit

Personal Flex Line

Personal Loan

Advantages


You can access the funds at any time via2:

       cheque
       ABM
       in-branch withdrawal
       electronic banking3
       Interac® direct payment

Flexible repayment options.

Obtain a single amount that can be used to finance all your renovation work.

You can select your repayment period based on your budget and cash inflows.

Repayment






You have the option of deferring payments for up to one year.

However, the interest will continue to accrue.

Repay at your own pace. Minimum monthly payment is interest (and insurance premiums where applicable).

Fixed payments are automatically debited from your account on a set date (weekly, bi-weekly or monthly).

Loan amount

Minimum loan: $5,000.

Eligibility




Based on your:

       ability to repay
       financial worth credit record

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Looking to borrow less than $5,000?

If you don’t plan on spending more than $5,000 on renovations, MasterCard credit card solutions can help you carry out your projects. Various types of cards are available.

Insure your future

For just a few dollars more each month, you can have the peace of mind that comes with knowing that if you become critically ill or disabled or die5, your loan will be repaid and your family will not be saddled with a financial burden. For more information, see our Loan insurance section.

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