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  • Home
    • Our Team
    • Testimonials & Reviews
    • Booking
    • Privacy Policy
    • About Ryan
  • Mortgage Types
    • Purchase Mortgages
      • First Time Home Buyers
      • Repeat Buyers
      • Second Homes / Vacation Property
      • Investment / Rental Properties
      • New Construction
      • Multi-Unit Properties
    • Refinancing
      • Home Improvements - Renovate
      • Debt Consolidation
      • Equity Take Out
      • Home Equity Lines of Credit
      • Refinance for Investment
    • Renewal
      • Shop Around!
      • Mortgage Transfer
      • Renegotiate
      • Renew Early
    • Other Mortgages
      • Self-Employed / Stated Income
  • Tools
    • Mortgage Calculators
    • Rent vs. Buy Calculator
    • Mortgage Glossary
    • Home Buyer's FAQs
  • Blog
  • Apply Now

Unlock the Potential of Your Home's Equity

Have you considered the possibilities that come with the equity you've built in your home? Whether you're dreaming of reinvesting in your future, renovating, or consolidating debt, your home equity can be a valuable resource.

Let Ryan, Tyler & the team be your guides as you explore the various options for leveraging the equity in your home.

Here are some smart ways you could use your home equity:

  • Buy a vacation home or investment property.
  • Invest in your child's education.
  • Renovate your existing home.
  • Help an adult child buy their first home.
  • Consolidate outstanding consumer debt.
  • Take advantage of lower interest rates to save money.

Before diving in, it's important to calculate how much equity you have in your home. This is determined by subtracting all mortgage and secured credit line debts from the current market value of your home.

Here's a basic formula to help you calculate your available equity:

Current Market Value - All Mortgage/HELOC Debt = Available Equity

Wondering how much of your equity you can actually use? You may qualify to refinance up to 80% of your home's current value.

As you consider how much equity to leverage, ask yourself:

  • How much do I really need to achieve my goals?
  • What can I comfortably afford to pay monthly for my mortgage?
  • What is my current interest rate?
  • How far into my current term am I?
  • Do I need to consider potential early mortgage payout penalties?
  • What are the costs involved in refinancing?

We're here to help review all your options and help you navigate these questions. Call today to get started on determining the right strategy for you.

For the most current up-to-date information on Mortgages and Real Estate in Kamloops and the BC interior, please 'Like' us on Facebook, follow us on Instagram, Pinterest and check out our Blog.

Ryan W. Smith - Mortgage Broker
House & Home Mortgage Co. 
258 Seymour St.
Kamloops, BC, V2C 2E5

House & Home Mortgage Co. Is a division of Verico Compass Mortgage Group. All Verico franchises are independently owned and operated. 
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