Found 4 blog entries tagged as equity.

In the ever-evolving landscape of real estate and personal finance, Canadians are discovering innovative ways to leverage the equity in their homes. One such financial tool that is witnessing a resurgence among homeowners is the second mortgage. With property values soaring across the country, homeowners find themselves sitting on substantial untapped equity in their residences. This article explores what a second mortgage is and the myriad ways it can be employed to consolidate debt, finance home improvements, or even fund an investment property.

Understanding the Basics

A second mortgage, also known as a home equity loan or a home equity line of credit (HELOC), is a loan taken out against the equity you have in your home. The equity is the…

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The real estate market is dynamic and can present both opportunities and challenges for buyers and sellers. Whether you are looking to buy a new home or sell your current property, understanding the current market conditions and trends is essential in making an informed decision. In this article, we will explore the factors that influence the market and provide insights into whether it is a good time to buy or sell.

Understanding the Real Estate Market

The real estate market is influenced by various factors, including supply and demand, economic conditions, interest rates, and government policies. The market can experience periods of stability, growth, or decline, impacting both buyers and sellers. Monitoring the market and seeking expert advice…

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Homeownership has many benefits, including the ability to use your property’s equity as a lending resource.  

Whether you need funding for a renovation or to consolidate debts, a mortgage holder can access home loans and home equity lines of credit (HELOC) through their property. There’s also the option to remortgage your home, which by breaking your existing mortgage and starting a new one, can provide leftover cash through your home’s equity to pay for large expenses. 

If you’re considering employing your home’s equity, here’s what you need to know about HELOCS, home equity loans, and remortgaging.  

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What is a Home Equity Line of Credit (HELOC)? 

If you’d like the flexibility of having a large chunk of change on…

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Typically, when tapping into your home’s equity, one uses a home equity line of credit (HELOC) or refinances their mortgage. What if we told you this was not the only way to free up home equity for other purposes? While a traditional mortgage is a loan secured by a home or property, the borrower must pay back the loan each month with interest throughout the loan lifetime. A reverse mortgage is the opposite. So, what is a reverse mortgage anyway?

A reverse mortgage is exclusive to Canadians over the age of 55. In a reverse mortgage situation, the homeowner can borrow as much as 55 per cent of the current home’s value. In other words, they are borrowing against the equity in the home. The borrower receives the money and does not have to make any…

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