Can I get a mortgage to buy and renovate a house?

Yes, under certain conditions. This means you don’t need to get a separate loan for renovations. If the improvements are cosmetic (i.e. replacing kitchen cabinets, refinishing hardwood, etc.), your mortgage loan insurance premium stays the same. If the improvements are structural (i.e. repairing a foundation, building an addition, etc.), your mortgage loan insurance premium will be higher.