Get the cash you need without giving up a low interest rate.
Dive into the world of cash-out refinancing.
Read up on types of refinancing to see how to access your home equity.
Some things that affect equity are out of your control — like the housing market — but there are other things you can do to help your equity grow.
Simply making your payment each month will increase your equity over time as the loan balance decreases.
Additional payments toward your loan balance can increase your equity and decrease the length of your loan.
Home upgrades and energy-saving renovation projects can increase the value of your home, building equity.
You can also get help from a Home Loan Expert.
Home equity is the amount of your home that you actually own. Specifically, equity is the difference between what your home is worth and what you owe your lender. As you make payments on your mortgage, you reduce your principal – the balance of your loan – and you build equity.
When you sell your home, you can use your equity as a down payment on your next home.
You may also be able to take some of your equity out as cash. Simply Approved Mortgage offers a couple of ways to do this:
You won’t be able to take out the full amount of equity that you have. Most lenders require you to leave a certain percentage in your home.
Yes! A home equity loan lets you access your equity with refinancing your current mortgage. There are a few things you’ll need to qualify for a home equity loan:
In today’s fluctuating economy, Canadian homeowners are increasingly looking at refinancing their mortgages
In today’s unpredictable financial landscape, many Canadian homeowners find themselves facing the challenge of securing loans
For Canadian homeowners, leveraging the equity built up in their homes can be a powerful financial tool.
Simply Approved Mortgages is committed to providing top-notch mortgage solutions and exceptional customer service. Learn more about our services and team.
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