You now have access to 2 government programs to build secondary suites. But one is perhaps better than the other …You will probably want to use the secondary suite refinance program rather than the secondary suite loan program (SSLP). Why do you ask? Th SSLP provides up to $40,000 for a loan to build or renovate a secondary suite - but in reality it is probably going to cost you more like $60-80,000. This is why you may want the refinance program: Canadians can access up to 90% of their homes value through default-insured mortgage refinancing to build secondary suites. Remember, just because you can borrow that much doesn’t mean you should. Ensure to reach out to your mortgage specialist to get a clear understanding of the financial risks prior to doing any additions or renovations