USE YOUR EQUITY
BUILT UP EQUITY IN YOUR HOME? TAKE ADVANTAGE.
PUT YOUR HOME EQUITY TO GOOD USE
Over time, as you pay down your mortgage and your home appreciates in value, equity is accumulated in your property. At the start, maybe you had a mortgage that put you at an 80% loan-to-value ratio, but after 5 years it drops to 60%. Now you have 20% more cash that you can pull out of your property to use for another purpose.
How a mortgage equity takeout works
An equity takeout mortgage or home equity loan is exactly what it sounds like: a mortgage loan used to “take out” equity in your property. Maybe you want to use the money for a home renovation, a large debt payout, or a down payment on an investment property or vacation home. If you have enough home equity, securing the right mortgage is the easy part.
DIFFERENT TYPES
An equity home loan might involve a fixed amount of money borrowed at a fixed rate. Or, it can be a fixed sum with a variable rate. Depending on your situation, you may decide that an open line of credit is the best course of action. Shared equity mortgages vary in the ways in which they are organized, so first evaluate your needs and then work a mortgage broker who can help you determine the best solution.
The 8Twelve approach
We’re big believers in understanding all the details that make up our clients’ financial situations. If you have a great deal of equity in your home and you require money for any reason, borrowing against your property is often the choice that makes the most financial sense because interest rates are low.
By acquiring a big-picture view, our team is in the perfect position to guide you in the right direction, negotiate with lenders on your behalf and secure the best mortgage equity loan for you.
What’s the takeaway?
THIS APPLIES TO YOU IF YOU ARE...
Your home has accumulated equity over time – and you have an excellent idea of how you want to use it.
YOU NEED IT BECAUSE...
There are a wide variety of ways to use the built-up equity in your home to your advantage. You can use it to pay for:
• Renovations
• Large debt payouts
• A down payment on vacation or investment property
• Your child’s post-secondary education
You can secure an equity takeout loan by…
Clicking the link below and following the steps we give you. Still have questions? Call us and we’d be happy to answer them. At the end of the day, this is all about you and your situation so let us help you determine if this is the ideal loan.
Contact Us
- Head Office:
-
8Twelve Mortgage Corp
(ON License #10372) -
45 Sheppard Ave East,
Suite 211,
Toronto, Ontario, Canada
M2N 5W9
- Head Office:
- 8Twelve Mortgage Corp (ON License #10372)
-
45 Sheppard Ave East, Suite 211, Toronto, Ontario, Canada
M2N 5W9
