Use the equity that you have built over the years in your
home to access funds you can use for any of the following:
Home improvements
Vacations
Education for your children
Vacation
Other investments, other real estate, or summer cottage
All our equity take out mortgages are based on the best
borrowing rates
Equity mortgage options:
High ratio mortgages up to 95% of the appraised value of
your home
Conventional up to 80% of the value of your home
Secured line of credit up to 80%
How it works
1) if your home is mortgage free, you can borrow up to 95%
on a high ratio mortgage or up to 80% conventional mortgage. The
difference is, there is no insurance fees on a conventional mortgage and
easier to borrow up to 80% when there are issues with income verification
and or credit.
2) If you have an existing 1st mortgage, you can borrow the
difference between what you owe up to the maxim allowed. For example.
Your home is worth $300,000 and you owe $150,000, or 50% equity. You
can take out up to $90,000 on a secured line of credit, or 2nd mortgage, or
30% of $300,000
To find out more how you can use the Equity in your home,
call us today or apply on line.
