YES, BUT THIS IS SUBJECT TO QUALIFICATION. EVEN A PURCHASER WITH 5% DOWN PAYMENT COULD QUALIFY. FOR HIGH-RATIO FINANCING, BOTH CMHC AND GE CAPITAL INSURED MORTGAGES ARE AVAILABLE TO COVER THE PURCHASE PRICE OF A HOME AND ALSO AN AMOUNT TO PAY FOR IMMEDIATE MAJOR IMPROVEMENTS OR RENOVATIONS. THIS ELIMINATES THE NEED TO FINANCE THE IMPROVEMENTS SEPARATELY. OF COURSE SOME CONDITIONS APPLY.

IF THE IMPROVEMENTS ARE TO BE STRUCTURAL, THE MORTGAGE LOAN INSURANCE PREMIUM IS INCREASED BY .50% OVER THE STANDARD SCHEDULE. IF IMPROVEMENTS ARE COSMETIC, THE MORTGAGE LOAN INSURANCE PREMIUM IS UNCHANGED FROM THE STANDARD SCHEDULE.