Services

Accessing home equity

Refinance your mortgage to access your home equity. The equity you have built in your home can be a powerful tool to help you reach financial goals.

By refinancing your home, you can borrow up to 80% of its current value. The extra money can be used to pay off your high-interest debt, renovate your home to increase its value, purchase an investment property, or save for a rainy day.

Home equity line of credit

If you have good equity in your home, you may want to consider a home equity line of credit (HELOC) product. A HELOC product is a secured form of revolving credit. You can borrow money, pay it back, and borrow it again, up to a maximum limit of 65% of your home's current value as a line of credit. It allows you to borrow with flexibility and convenience. The HELOC product and mortgage cannot exceed 80% of your home's current value.

Debt consolidation

With the significant appreciation in housing prices over the past decade, many Canadians are taking advantage of low interest rates. Although debt consolidation is not a suitable option for everyone, you may want to carefully consider whether refinancing your home to pay off credit card debt, loans or a line of credit would make sense in your circumstances. You may be surprised by the amount of money you can save.

Benefits include:

• a single monthly payment rather than multiple payments
• lower interest rates
• money left over to invest

My team will work with you on creating a financial plan that will help you reach your goals.