Defining Home Equity
Home equity is the market value of a homeowner’s unencumbered interest in their real property, that is, the difference between the home’s fair market value and the outstanding balance of all liens on the property (i.e. any mortgages). Also known as real property value, home equity is approximately calculated by taking the total value of your home and subtracting the amount of money remaining on the balance of your current mortgage and any additional liens. This difference can often be obtained in funds through a new or additional mortgage. Generally, in Canada, a homeowner may be able to use a broker to assist them in taking up to 80% of their home value (equity) and converting into funds available to them.
Imagine what your home equity could do for you
Like most home and business owners, you’ve worked hard to make regular payments throughout the lifetime of your mortgage. Whether you’re paying a mortgage for the first time or a seasoned homeowner with considerable equity in your home, Shane and his team can help you unlock your home equity and convert it into funds for you to use however you please for you and your family.
Whether you’re ready for a vacation in the sun, renovating your home, paying your children’s student tuition, consolidating high-interest debt such as loans and credit cards, or simply looking for some extra help in order to pay down debt and make ends meet, Shane can help you turn the amount of ownership in your home into available funds quickly and without hassle, while ensuring a great interest rate and terms.
Turn home equity into funds
Contact Shane and his team today to unlock your home equity and convert it to funds to use on the important things, whether home renovations or your children’s tuition. We make it easy and efficient and work around your schedule to obtain your funds.
Shane can complete your application entirely online or over the phone, as well as in person. Shane offers a variety of options to connect with you and works around your schedule, allowing you to indicate the best time and method for him to contact you.
What could you use your HOME EQUITY for?
Do you have high-interest debt to consolidate?
If you’re paying any debt with higher interest than your current mortgage rate it may be time to consider taking out your home equity and converting it into funds to pay off high-interest debt such as credit cards, high-interest loans, auto financing, or any others. Consolidating this high-interest debt would not only would this give you peace of mind, but also potentially save you thousands of dollars in interest.
Whether you’re looking to consolidate pesky high-interest debt or want to travel across the globe on the trip of a lifetime, I’m dedicated to helping my valued clients convert their home equity into funds. I strive to make it simple and to always minimize any associated fees while finding the absolute lowest rate. Giving you the most money at the lowest cost to spend on the things that truly matter to you and your family.
― Shane Osmond, Mortgage Professional
Wondering how you convert your home equity into funds?
You may qualify to refinance up to 80% of the value of your home. Shane and his team will work with you to help you assess your home value, understand your current mortgages terms, and then find you the best mortgage, with the absolute lowest rate, to suit your financial goals.
The Process of Converting your Home Equity to Funds
While Shane approaches each client’s situation and circumstance in the best manner to benefit them and their financial situation and goals, we’ve outlined the general path undertaken by most of our clients as they seek to convert their home equity into funds while receiving the most savings and benefits available to them.