Flexible Financing for Your Renovation
We believe a quality renovation should be accessible. Our transparent payment schedule and knowledge of Ontario financing options help you plan your project with confidence and without financial stress.
Our Payment Schedule
At Leo Constra, we use a milestone-based payment structure that protects your investment and aligns payments with visible progress on your project. You only pay as work is completed and verified to your satisfaction.
10%
Deposit
Secures your project date and initiates material ordering. Outlined in your signed contract before any work begins.
30%
Milestone 1
Due upon completion of demolition and any structural work. You will see clear progress before this payment.
30%
Milestone 2
Due when rough-in work is complete, including electrical, plumbing, and framing. Inspections passed at this stage.
30%
Final Payment
Due upon project completion and final walkthrough. We ensure every detail meets your expectations before this payment.
Financing Options for Ontario Homeowners
There are several ways to finance your renovation project in Ontario.
01Home Equity Line of Credit (HELOC)
One of the most popular ways to finance a renovation. A HELOC lets you borrow against the equity in your home at competitive interest rates. Most major Canadian banks offer HELOCs specifically for home improvements, and interest may be tax-deductible if the funds are used to improve the property.
02Personal Loan or Line of Credit
For smaller projects or homeowners who prefer not to use home equity, a personal loan or line of credit from your bank can be a good option. These are typically unsecured, so no collateral is needed, though interest rates may be higher than a HELOC.
03Renovation-Specific Financing
Some financial institutions in Ontario offer renovation-specific loan products. These are designed for home improvement projects and may come with favorable terms. Ask your bank or credit union about renovation loan programs available in your area.
04Credit Card Payments
We accept credit card payments for clients who prefer to use rewards cards or manage cash flow through their existing credit facilities. This can be particularly useful for smaller projects or for the deposit portion of larger renovations.
Ontario Renovation Tax Credits & Programs
Depending on your situation, you may qualify for provincial or federal tax credits that reduce the cost of your renovation.
Multigenerational Home Renovation Tax Credit (Federal)
A refundable federal tax credit for renovations that create a self-contained secondary suite (including a garden suite) for a senior family member (65+) or an adult eligible for the disability tax credit. It covers up to $50,000 in eligible expenses at the lowest federal tax rate (about 14-15%), worth roughly up to $7,000-$7,500 depending on the filing year. Confirm the current rate with a tax professional.
Ontario Seniors' Home Safety Tax Credit
Designed for Ontario seniors (65+) to help cover the cost of home modifications that improve safety and accessibility. Eligible expenses include grab bars, walk-in tubs, wheelchair ramps, and other safety-focused upgrades. The credit is worth 25% of up to $10,000 in eligible expenses.
Home Accessibility Tax Credit (Federal)
A non-refundable federal tax credit for individuals who are 65+ or eligible for the disability tax credit. It covers qualifying renovation expenses up to $20,000 for modifications that improve accessibility or reduce the risk of harm in the home.
Canada Greener Homes Grant Programs
While the original Canada Greener Homes Grant program has concluded, energy-efficient home upgrades may still qualify for various utility rebate programs in Ontario. These can offset costs for insulation, windows, HVAC systems, and other energy-saving improvements included in your renovation.
Important: Tax credit programs and eligibility requirements change frequently. We recommend consulting with a qualified tax professional or visiting the Canada Revenue Agency website for the most current information. Leo Constra can provide detailed receipts and documentation to support any applicable claims.
Government Incentives for Garden Suites & Secondary Units (ARUs)
Building a garden suite, basement apartment, or other additional residential unit (ARU)? Several current federal, provincial, and municipal programs can lower your net cost. Programs change often and funding is limited—always confirm the current details before you rely on them.
CMHC Insured Refinance for Secondary Suites (Federal)
A live federal program (effective January 2025) that lets you refinance your mortgage to fund a secondary suite, borrowing against up to 90% of your home's improved value (the as-improved value must be under $2,000,000), with amortization up to 30 years on up to four units. This is the most common way GTA homeowners finance a garden suite today.
Development Charge Exemption (Bill 23)
Under provincial law, municipal development charges, parkland dedication, and community-benefit charges are not applied to qualifying additional residential units. For a garden suite this commonly saves an estimated $20,000-$60,000 per unit - one of the largest savings available, and it applies automatically rather than by application.
Hamilton ADU & Multi-Plex Housing Grant
Homeowners in Hamilton, Dundas, and Stoney Creek can apply for a grant of 70% of eligible costs, up to $40,000 per unit, to help build an additional dwelling unit. The program is active and accepting applications - confirm current terms and deadlines with the City of Hamilton.
Mississauga Gentle Density Incentive Program
Mississauga offers grants in lieu of City fees for second, third, and fourth rental units, and for a fourth unit can also cover development charges and parkland fees (reported up to about $58,000). Building-permit fees are refunded after inspection. Confirm caps and the permit window with the City of Mississauga.
Watch out for outdated offers: Several widely-advertised incentives have ended. As of June 2026, the federal Canada Secondary Suite Loan Program ($80,000 at 2%) was cancelled and never launched, the City of Burlington’s ARU forgivable loan closed to applications in October 2025, and the City of Toronto’s laneway and garden-suite forgivable loan has been discontinued. Always verify current programs directly with your municipality and consult a qualified tax professional. Leo Constra provides the itemized quotes, drawings, and documentation these applications require.
Transparent Pricing You Can Trust
Detailed Written Quotes
Every project starts with a comprehensive, itemized quote so you know exactly what you are paying for. No hidden fees, no surprise charges.
No Pressure, No Rush
Take the time you need to review your quote, arrange financing, and make your decision. We are here to answer questions, not push sales.
Protected Investment
Your project is backed by our 2-year workmanship warranty, full insurance coverage, and WSIB clearance. Your investment is safe with us.
Financing & Payment FAQ
Common questions about paying for your renovation project.
What is the typical payment schedule for a renovation?
Do you require a deposit before starting work?
What payment methods do you accept?
Can I finance my renovation through a bank?
Are there any Ontario tax credits for renovations?
What if I need to make changes during the renovation?
Do you offer a warranty on your work?
Contact Us
Licensed & insured contractors delivering residential and commercial projects, including renovations, additions, and custom builds across the GTA.
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Get a free, detailed quote with a clear payment schedule tailored to your renovation.