Using  Your Home Equity

The term "Home Equity" or property equity, can take on a lot of different meanings when it comes to mortgages and borrowing money.  To work out how much equity you have, see “What is Equity” (or the Equity Calculator – setup links here).

The equity in your home can be used in several different ways.  The idea of using equity is to unlock cash in your home, for some other purpose. This purpose could be…

  • Consolidate your debts and bills
  • Renovate your home
  • Buy another property or investment
  • Invest in your business
  • Pay for a vacation
  • Help for a family emergency
  • Pay back a another debt such as taxes or condo fees

The list goes on and on.  Equity can be used for anything really.

One way to access your home equity is to refinance your current mortgage and increase it.  This is very popular for clients who have good credit and income. See Refinance for more information. (set up link)

Another way to access home equity is as a 2nd mortgage or Home Equity Loan.  This is a separate loan to your current mortgage payment, but works in a similar way. See Home Equity Loans or 2nd and 3rd mortgages for more information. (set up link).

Give us a call today, and find out how easy it is to access your home equity.  Call 403.284.4000.

 

   

Contact Us

600-602 12th Avenue SW
Calgary, AB
T2R 1J3 

Toll Free 877.284.4009
P 403.284.4000
F 403.284.4010

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