Basement Renovation Financing
Unlocking Your Home's Potential: Smart Funding Solutions for Your Basement Makeover
Finished Basement Company offers home equity loans that will help you realize a basement renovation project of any complexity. You can get your dream basement for just C$150–300 bi-weekly. For this, our company partners with FinanceIt Canada Inc.
This applies not only to basements intended for personal use but also to basement apartments. A legal unit can be rented out immediately to generate additional income from the difference between the monthly loan payment and the high and ever-increasing rent.
Get Started in Minutes on Any Device
Fill out the application and receive a credit decision on the spot. Simply complete the Application Form: enter your full name, date of birth, phone number, and some additional information. The result will be obtained almost instantly. The entire credit line application process rarely takes more than 1–2 days.
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Note that a preliminary assessment of your creditworthiness will not affect your credit rating. After the loan is approved, all that remains is to confirm payment for the basement renovation project, which will be implemented by Finished Basement Company. It couldn’t be easier!
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FinanceIt Canada Inc. will automatically deduct the agreed-upon payments from your account at any Canadian bank. The amount of each payment and its frequency is individually determined for each client and depends only on their personal preferences, as well as the chosen loan amortization term.
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GETTING APPROVAL FOR A LOAN TYPICALLY TAKES JUST 1-2 DAYS
Our company's specialists, who focus on basement renovation projects, will meticulously plan every detail of your interior, while our experienced professionals will bring it all to life. All you need to do is choose the term for amortization and a convenient frequency for automatic regular payments.
Home Equity Loans Fast Approval
The implementation process for an average renovation project by Finished Basement Company typically takes 2 to 3 weeks. Approval for personal loans for home improvement projects is a matter of 1 to 2 days. Once approved credit is in place, the basement renovation process will begin as soon as there is an available opening in our company’s schedule.
In carrying out basement renovation projects, our company uses only the highest quality materials, which we import into Canada ourselves. All the professionals on our team have extensive experience in various fields, from architecture and design to engineering and electrical work.
The likelihood of approval for home improvement loans is very high, so it is important to consult with our specialists and discuss all the details of your future project before opening a credit line. Such personal loans can be repaid ahead of schedule without any penalties or other negative implications.
Furthermore, all mandatory payments are determined upfront, and there are no additional or hidden fees. Clients have the flexibility to choose both the loan amortization period and the frequency of payments, which will be automatically debited from the selected account.
Choosing Finished Basement as general contractors will save you 2 and even 3 days of your time. Just 45 minutes spent in the company’s 3000 sq ft showroom will help define all the details of your future basement renovation, including materials, type, and the scope of remodeling services, along with the appearance and functionality of the entire basement.
Personal Loans Financing Program Highlights
1. Fairness and Flexibility
Personal loans that you can obtain for creating the finished basement of your dreams, whether for personal use or for renting out, are automatically paid from clients' bank accounts. However, they may repay the loan with any additional amounts at any time without penalty.
2. Simplicity and Accessibility
The financial institution FinanceIt Canada Inc., with which our company partners, offers transparent terms for obtaining financing for basement renovation projects. The amortization period of the loan can be up to 240 months, with interest rates starting from 13.99%.
3. Confidentiality and Security
In partnership with FinanceIt Canada Inc., Finished Basement Company offers bank-level encryption to protect the confidentiality of personal information of all our clients. No data can fall into the hands of malicious actors under any circumstances, which is very important today.
4. Transparency and Clarity
When issuing a loan, FinanceIt Canada Inc. adds a small service fee to the amount of the loan. There are no hidden or additional charges. Plus, our clients know in advance the exact amount of interest payments that will be deducted from their bank account and at what frequency.
Easy Personal Loan for Basement Renovation
Through a partnership with FinanceIt Canada Inc., which provides the opportunity to obtain a personal loan, Finished Basement Company can execute basement renovation projects valued up to C$100,000 with flexible repayment options including monthly, bi-weekly, or weekly.
This amount is often more than sufficient not only to carry out a basement renovation for personal use but also to create a legal basement apartment, which can be officially rented out to generate a regular and essentially passive income.
All that remains for you to decide is the term of the loan amortization and the frequency of the payments, which will be automatically deducted from your account. Plus, it's important to work out all the details of the future basement renovation project with the experienced team at our company in advance.
Our company's specialists can carry out a basement renovation project of any level of complexity. We specialize specifically in basements, so we are well-versed in all the nuances of working with such spaces, as well as the potential pitfalls one might encounter during the execution of such projects.
Entrust your renovation to a team of professionals who value their reputation and consistently rank at the top of verified ratings. They'll assist in determining the layout, material selection, and other renovation details, offering optimal remodeling services and solutions for your unfinished basement.
Explore Different Purchase Amounts
- C$40,000
- C$50,000
- C$60,000
- C$70,000
- C$80,000
- C$40,000
- Purchase amount: C$40,000
- Interest rate: 13.99%
- Amortization period: 120 months
- Administration fee: C$149.00
- Payment frequency: bi-weekly
- Payment amount: C$286.76
Please note that actual interest-only payments and interest payments may differ when a home equity loan is approved for contractor financing. The financing options and monthly payments outlined above are for informational purposes only and are not a final offer.
- C$50,000
- Purchase amount: C$50,000
- Interest rate: 13.99%
- Amortization period: 120 months
- Administration fee: C$149.00
- Payment frequency: bi-weekly
- Payment amount: C$358.18
Please note that actual interest-only payments and interest payments may differ when a home equity loan is approved for contractor financing. The financing options and monthly payments outlined above are for informational purposes only and are not a final offer.
- C$60,000
- Purchase amount: C$60,000
- Interest rate: 13.99%
- Amortization period: 240 months
- Administration fee: C$149.00
- Payment frequency: bi-weekly
- Payment amount: C$343.92
Please note that actual interest-only payments and interest payments may differ when a home equity loan is approved for contractor financing. The financing options and monthly payments outlined above are for informational purposes only and are not a final offer.
- C$70,000
- Purchase amount: C$70,000
- Interest rate: 13.99%
- Amortization period: 240 months
- Administration fee: C$149.00
- Payment frequency: bi-weekly
- Payment amount: C$401.10
Please note that actual interest-only payments and interest payments may differ when a home equity loan is approved for contractor financing. The financing options and monthly payments outlined above are for informational purposes only and are not a final offer.
- C$80,000
- Purchase amount: C$80,000
- Interest rate: 13.99%
- Amortization period: 240 months
- Administration fee: C$149.00
- Payment frequency: bi-weekly
- Payment amount: C$458.27
Please note that actual interest-only payments and interest payments may differ when a home equity loan is approved for contractor financing. The financing options and monthly payments outlined above are for informational purposes only and are not a final offer.
Basement Renovation Financing Examples
Basement Finishing Barrie
All basement renovation projects carried out by our company are unique and distinct from one another. However, they all share common features, including a preliminary free consultation, a complimentary estimate before commencing work, and the utmost professionalism of our specialists who will transform any abstract ideas into a dream basement.
Basement Finishing Brantford
The process of each basement renovation is entirely unique. Firstly, it’s related to the shape and size of the basement, which can vary significantly from one project to another. Secondly, homeowners can have a variety of needs and desires for their private homes.
Basement Finishing Richmond Hill
Our company offers worry-free basement renovations to homeowners in various areas of the Greater Toronto Area, and beyond. Each of our projects is absolutely unique, and the absolutely new basement that the homeowners in Richmond Hill acquired is a vivid confirmation of this.
Basement Finishing Vaughan
Every basement renovation project undertaken by our company is highly individualized. This applies to Vaughan specifically, and also to the entire Greater Toronto Area and Ontario as a whole. Each project can encounter its unique unexpected issues, but for an experienced team of professionals, they won’t be an obstacle to a quality renovation in the most underrated space of one’s house.
Basement Finishing Milton
Like any other, this project within the scope of Milton basement renovations is absolutely unique. It’s a quality basement project, which 100% reflects all the needs of the private homeowners — they remained completely satisfied with their new basements, filled with a plethora of interesting discoveries, comprehensive solutions, and maximally functional spaces.
Basement Finishing Aurora
Our company specializes in basement renovations throughout the Greater Toronto Area and beyond, covering a significant part of Ontario. Our experts, with years of experience, have successfully completed numerous projects, including basement finishing in Aurora and many other cities and regions.
Finished Basement guarantees that all services rendered adhere to the Ontario Building Code (OBC). This reflects the company’s commitment to quality and compliance with industry standards for remodeling services. We ensure that basement renovations will meet legislative and safety requirements.
If, during the 5-year warranty period, any installation defects are found in any part of the basement, we commit to rectifying them. Any defective remodeling services will be redone at no additional cost. This warranty underscores our unwavering commitment to cater to our clients’ needs.
Basement Renovation Financing FAQ
What interest rates will be used?
The interest rates for basement renovation projects by Finished Basement are calculated based on credit history, loan amount, and promotional offers. The standard interest rates for basement renovations are 13.99%. If you do not meet the general criteria, other programs may be approved with rates between 16.99–19.99%.
Are there any fees associated with my loan?
No service commission or regular additional or hidden fees that add to the loan payments are envisaged by the system. Only an administrative fee of 1.5%, up to a maximum of C$149, is charged on the total project cost secured by home equity for disbursing funds to the seller.
Can I make additional payments on the loan?
Yes, certainly. You are free to make early or additional payments on the loan or fully repay the outstanding balance at any time without any penalties, increased interest rates, or other issues. Such actions are solely at your discretion.
How is the security of my personal data ensured?
In any transaction with each individual credit line and in the handling of any client data, the financial organization FinanceIt Canada Inc. employs bank-level encryption—AES 256-bit SSL. This ensures that your data is under robust protection.
What if my application is not approved?
If your application under the standard program is not approved, you may receive approval for extended credit programs with interest rates starting at 16.99%. Furthermore, you can also add a co-borrower to your application to try for approval under the standard program.
What is an amortization period?
The amortization period in this context refers to the total time required to fully repay the loan. The minimum amortization period is usually 12 months, with the maximum being 240 months. Payments can be made weekly, bi-weekly, or monthly.