Written by 8:59 PM General Views: 6

Cash Out Your Home Equity

Home equity loans are getting more accessible.  Genworth Financial Canada has a new Cash-Out Refinance program that lets homeowners borrow up to 95% of their home’s value.  You can use the money for renovations, investments, debt consolidation, etc.

Factoid:  Over 45% of home equity loan proceeds are used for renovations.

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Last modified: December 23, 2006

Robert McLister is one of Canada’s best-known mortgage experts. A mortgage columnist for The Globe and Mail, interest rate analyst and editor of MortgageLogic.news, Rob has been covering Canada's mortgage market since 2007.

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