Canada Secondary Suite Loan Program
Turn Your Home into an Income Generator!
Service Overview
The Canada Secondary Suite Loan Program offers homeowners an affordable way to create additional living spaces, such as basement apartments, in-law suites, garden suites, or laneway homes. This initiative provides low-interest loans of up to $80,000 to help you finance the construction or renovation of a secondary unit within your primary residence..
Why Consider a Secondary Suite?
- Earn Rental Income – Offset your mortgage payments with a legal rental unit.
- Increase Property Value – Boost your home's market value with a functional secondary suite.
- Support Family Living – Create space for aging parents, adult children, or extended family.
- Contribute to Affordable Housing – Help provide more housing options in your community.
Why Consider a Secondary Suite?
- Loan Amount: Up to $80,000 at a low-interest rate.
- Eligibility: Homeowners looking to create a secondary unit in their primary residence.
- Eligible Renovations: Basement apartments, separate entrances, kitchens, bathrooms, and other required upgrades.
- Flexible Repayment Terms: Loan repayment over an extended period.
How to Apply
- 01 CHECK YOUR ELIGIBILITY
- Ensure your property meets the zoning and regulatory requirements.
- 02 CONTACT DCO HOMES
- We will assist with your loan application and guide you through the process..
- 03 SUBMIT YOUR APPLICATION
- Applications are processed through Canada Mortgage and Housing Corporation (CMHC).
- 04 SECURE YOUR FUNDING
- Once approved, start your renovations with confidence.
- Your project manager will be your dedicated point of contact throughout your entire project and will also coordinate any extra pros we bring in to get things done expertly. Should you experience any concerns or have any questions, call your project manager immediately. We will ensure your home gets quality installation and the dream remodel you envisioned.