If you are looking for a mortgage program that allows you to get access to your property equity, all the way up to 80% of the value of your home, this is a great option. It is a combined mortgage plus a line of credit. The diagram below, will help you see how this mortgage is structured. Numbers will vary depending on the value of the property, balance of the current mortgage, as well as the maximum borrowing amount the mortgage applicants qualify to receive on the revolving line.
This blog was written by Elizabeth Blair on January 23, 2010.
Elizabeth Blair is a Licensed Mortgage Agent with Mortgage Edge in Richmond Hill, Ontario. Elizabeth services mortgage clients primarily in Mississauga and all over the Greater Toronto area.
You can contact Elizabeth directly by phone at (905) 510-5785
by email at eblair@mortgageedge.ca
or you visit her website at: www.missmortgage.ca
Elizabeth is licensed with the Financial Services Commission of Ontario and is also a Member of IMBA (the Independent Mortgage Brokers Association of Ontario) www.imba.ca
Lic # M08005880 / Brokerage Lic # 10680
Head office:: 15 Wertheim Court, Suite 210, Richmond Hill, Ontario, Canada.
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