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NB 160000730 NS 182519416
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NS161759015 NB160000476 ONT M18000001
Tonya Russell NB Mortgage Associate  NS Mortgage Broker

Tonya Russell

NB Mortgage Associate NS Mortgage Broker


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Address:
466 Bowlen St. , Fredericton, New Brunswick

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Ways to use the equity in your home

4/30/2014

Genworth

 

Once you’re a homeowner, the payoff can be great. When you make a mortgage payment each month, you build equity in a place of your own. As the equity in your home grows, your financial flexibility also increases. Think of it as an extra source of financing for when the unexpected happens.

 

An added benefit of borrowing money against the equity in your home, is it usually comes with a lower interest rate than other forms of credit, such as consumer loans, lines of credit and credit cards.

 

Here are some ways you can use the equity in your home:

  • Pay off other debts with higher interest rates (like credit card debt)

  • Renovate or repair your home – build a new room or put in a swimming pool

  • For important life events – a wedding, dream vacation or university tuition

  • Purchase a second home or vacation property

  • Emergencies – like a serious illness

Want to know more about how you can access the equity in your home?  Contact me for more details.

Genworth Canada

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