The Best Place to Get Home Renovation Loans in Ontario

Are you thinking of renovating your home?  Many homeowners plan on renovating both the interior and exterior of their house. Renovations can help the homeowners refresh and update the look of their property as well as potentially help to increase the value.

Thinking of selling your home? Why not add some cosmetic renovations to freshen up the property to try and maximize the sale price of the home.

No Credit checks, Income verification or Appraisals needed* Tembo Financial can provide funds for renovations often in as little time as 48 hours from application to funding.

No matter if you are looking to update your home or to maximize the potential sale price for an upcoming sale, A home renovation loan in Ontario from Tembo Financial could be the perfect solution for you. Get started today!  Apply Now!

Why use a home renovation loan in Ontario?

Regardless of how big or small of a renovation, the price of materials and labour have become very costly, making renovations often unaffordable for many homeowners.  With our home renovation loans, our clients can do renovations like home repairs, painting, kitchen and bathroom remodelling, landscaping, and flooring.

As one of the best home renovation loan companies in Ontario, let us assist you with tapping into your home equity to make your dream renovations become a reality with a home renovation loan in Ontario from Tembo Financial.

Benefits to home Renovations:

  • Improving the functionality of your home
  • Enhance your property value
  • Modernizing the style and bring more life into your home
  • Adding curb appeal to your exterior
  • Increasing the amount of usable space both inside and out

Example of a Renovation Loan in Ontario:

Shane and Marisa purchased an older house in London, Ontario back in 2019 for $365,000.00. They have always been interested in adding some landscaping in the front yard, a patio in the backyard and updating the functionality of their basement, but never got around to doing the work.  In 2022, they did a home appraisal showing a new valuation of $735,000.00. Considering their outstanding mortgage is only $260,000.00, they realized the equity in their home was more than enough to afford the renovations they’ve always wanted to do. After contacting Tembo Financial, the couple was able to get a renovation loan to comfortably complete the work they’ve always been wanting to do. Tembo was able to use their home appraisal to verify the valuation and to provide funds within 48 hours.

Example of a Renovation Loan for getting a home ready for Sale:

Janet and Ed have spent the last 40 years raising their children and grandchildren in their home in Toronto. Now only being occupied by the two of them, Janet and Ed are interested in downsizing and moving closer to be with their children and grandchildren. The couple haven’t updated their house in a while, which was evident from their 1980’s style kitchen and bathrooms. Their children suggested doing extensive renovations to the home to update the property like their neighbors have done. The problem? Janet and Ed are retired and have not planned on saving the $150,000.00 they need to complete the renovations. With one quick call, they spoke to Tembo Financial who was able to provide the funds needed to complete the renovations before they put the house on market for sale. With having their original mortgage paid off, they were able to get enough money for both the renovation and for the deposit on a new condo right around the corner from their kids and grandkids.

Contact Tembo Financial for Home Renovation Loans in Ontario

We at Tembo Financial will offer a home renovation loan whenever our clients need it. This can help them cover all the remodelling work before selling their residential property. The process of obtaining a loan is simple and fast. Please call us at 1 844 238 6717 or email us at to apply today.

Are you looking to do renovations in your home but don’t have the funds to do so? Tembo Financial can advance you the equity in your home so that you can do the renovations your home needs before putting it on the market! With renovations and repairs, you may be able to increase the sale price of your home.

Home Renovations may include:

  • Painting
  • Kitchen renovations
  • Bathroom renovations
  • Flooring
  • Landscaping
  • Any touch-ups your home needs!


What are the costs of getting a home renovation loan?

The fees are simple with our home renovation loans in Ontario and always clearly outlined in our commitment and borrower disclosure. The fee structure is dependent on many factors, including the loan amount, the position on title as well as the location and condition of the subject property. Give us a call today to discuss your home renovation loans situation and get a quote! Call 416 238 6717

Are lawyers required to get a home renovation loans in Ontario?

Yes, lawyers are required to complete the loan transaction. Fortunately for our clients, Tembo Financial has really low legal fees.

How long does the application process take for a home renovation loan?

The application process is simple and only takes a few short minutes to complete.  Most clients are approved in minutes! We are often able to fund the loan in 24-48 hours. Some conditions apply and are subject to qualification.

How is my home renovation loan secured?

All our loans are secured by real estate. Tembo Financial registers a mortgage ranking directly behind the existing mortgage(s) in place.

When do I receive the funds for my home renovation loan?

Funds are sent to our client’s bank account directly from the lawyers once the file is “closed” and the mortgage is registered on title.

Do I need a home appraisal for my home renovation loan?

In most cases we do not require appraisals, however some exceptions apply.

What documents do I need to apply for a home renovation loans in Ontario?

Personal Information:

  1. 2 pieces of Valid ID (Drivers License, SIN #, Credit Card, Passport)
  2. Void Cheque
  • Most Recent NOAs (upon request)

Documents Related to the property:

  1. Most recent mortgage statement(s)
  2. Most recent property tax statements

(If the property is Sold or going to be sold)

  • Listing Agreement
  1. Purchase and Sale Agreement (when applicable)
  2. Sold MLS Listing  (when applicable)
  3. Any waivers, Amendments pertaining to the sale
  • A copy of the buyers deposit cheque (when applicable)

What rates does Tembo Financial charge for a home renovation loan?

The interest rates at Tembo Financial are competitive to current market prices but do vary depending on each client situation. Please call our offices at 1 844 238 6717 to get a quote.

Is there a minimum loan amount for a home renovation loan?

Our minimum loan amount at Tembo Financial is $25,000.00

How does Tembo get repaid for the home renovation loan?

Clients have options when it comes time to repaying the loan. Many clients decide to repay the loan directly through their lawyer on the closing date when the subject property is sold. Clients might not be selling their home and therefore decide to pay off the loan through a mortgage refinance or from their own personal funds. Every situation is different. If you need assistance in figuring out your repayment strategy, please give us a call to discuss about home renovation loans in Ontario today.

What areas does Tembo Financial Lend in?

Tembo lends throughout Ontario. Please contact us directly to see if we lend in your area. Some of our approved lending areas include: Ajax, Arnprior, Barrie,  Bracebridge, Bradford, Brantford, Belleville, Burlington, Brampton, Caledon, Cambridge, Collingwood, East Gwillimbury, Erin, Fort Erie, Guelph, Goderich, Gravenhurst, Grimsby, Hamilton,  Halton Hills, Huntsville, Ingersoll, Kawartha Lakes, Kingston, Kitchener, London, Markham, Mississauga Milton, Mono, Newmarket, Niagara Falls, Oakville, Orillia, Ottawa, Orangeville, Pelham, Pickering, Peterborough, Prince Edward County, Richmond Hill, Sarnia, St Catharines, St. Thomas, Toronto, The Blue Mountains, Vaughan Wasaga Beach, Whitby, Waterloo, Whitchurch-Stouffville, Windsor.

Can my Home Renovation Loan be an open term?

Yes, majority of our renovation loans are fully open. This allows our clients to repay their loan any time during the term of the loan without any repayment penalties.

What term length are the Home Renovation Loans?

In most cases our renovation loans are 4 or 6 month, fully open terms. This allows the homeowner to complete their renovations and list their property for sale. Depending on the client’s situation we can customize the term length to be anywhere between 1 and 12 months for all deposit loans. We have longer term options for clients who are not planning on selling their property after completing the home renovations.