This program has been around for a while, but I found that it was always difficult to qualify for.  Recently I have notice that it has becoming much easier. It is a great program.

You can purchase a house and add the price of what it would cost you to get the basement professionally finished, added to the mortgage of the house.  It is much easier for example to add $15,000 to a mortgage than take out a loan. $15,000 in a mortgage payment is about $75 a month (40 amortization). This can be done with many different repairs or upgrades to the house, but they must be professionally installed.

This is a great opportunity to purchase and fix up the house immediately.

Link to more info: http://www.theamigo.ca/account/760c48900dab2174/pdfs/CHMC_pur_plus.pdf