The most recent lucky winners are Marc Pepin and Rebecca Thompson of Toronto.
“When (our broker) Brad called we thought ‘wow, we're really lucky because our renovation budget is squeezed to the max,’” Rebecca Thompson said. “We’ve had our eye on some high end appliances that will bump up the value of the home.”
The intention of the Purchase Plus Improvement mortgage is to allow homebuyers – especially first-time homebuyers – the chance to not only purchase a home but to renovate it and make it their own.
“VERICO Canada is delighted to support Brad in helping to create a great experience for their clients,” Sean Widdess, vice president of business development for Verico Canada said. “We look forward to giving away another $20,000 to the 4 next lucky winners.”
And homebuyers who use the product to purchase their home each have a one in six chance of taking home the $5,000.
“This was a fantastic experience for me as a mortgage broker,” Brad Nemes, mortgage agent for Verico Capital Mortgages Inc. said. “I was able to not only assist my clients in getting a mortgage, but now to help give away a cheque for $5000."
One leading network’s “Purchase Plus Improvement” mortgage product gives clients access to up to $40,000 for home renovations. And as part of the product, one lucky couple took home $5,000 to help renovate their home.