Your Mortgage Centre specialist can help guide you through the options of leveraging the equity that you've created in your home.
Here are some advantageous ways to maximize the use of your equity:
But first you'll need to calculate how much equity you have in your home. Meaning, the price for which your home could be sold on the market today, less any debts registered against the property, such as mortgages and secured credit lines.
Here is a basic calculation to help you determine your amount of equity:
Current market value - all debts registered against it = Available Equity
You may qualify to refinance up to 85% of the value of your home.
Here are some questions to ask yourself when determining how much equity you should leverage:
Your local Mortgage Centre specialist will review all the options available to you, taking into account your financial goals, future and current lifestyle needs, and personal preferences to help you determine the right strategy for you. Call today to get started.