# Can renovation costs be amortized over 30 years?

> Yes, if the renovation is part of a new mortgage or a refinance for a first-time buyer (under 2024 reforms), or if it's an uninsured refinance.

Category: Financing
Last verified: 2026-02-18
Source: https://ratellow.com/faqs/financing/can-renovation-costs-be-amortized-over-30-years

## Answer
Yes, if the renovation is part of a new mortgage or a refinance for a first-time buyer (under 2024 reforms), or if it's an uninsured refinance. This helps lower the monthly payment impact of a major $100k+ renovation compared to a standard 25-year amortization.

## Related guide
- https://ratellow.com/guides/renovation-financing-guide

## Sources
- CMHC Eco Plus Program — https://assets.cmhc-schl.gc.ca/sf/project/cmhc/pdfs/factsheets/new/cmhc-quick-reference.pdf
- Financing Renovations Guide — https://www.canada.ca/en/financial-consumer-agency/services/industry/laws-regulations/guideline-existing-mortgage-loans-exceptional-circumstances.html#toc3