fbpx

780-416-1085

Apply Now

Refi-to-Buy!

Refi-to-Buy Calculator

Will you sell before buying?

Will you sell before buying?

Will there be enough equity?

Will there be enough equity?

Calculate equity from Sale of Home

$
$

*includes estimated realtor fee

Calculate your Mortgage Loan

$
$
$

Can you purchase the property in full using cash and/or investments?

Can you purchase the property in full using cash and/or investments?

Let's look at accessing equity in your home!

Refinance Calculator
$
$

$
*In Canada, you can only refinance up to 80% of the appraised value
Is the above available equity enough to purchase?

Let's look at adding a mortgage to the new home

New Purchase Calculator
$
$
$

$

Use Investments

$

Accessing your investments can cost you money.

Access Equity in Current Home

The equity in your home is YOURS!

Add Mortgage to the New Home

A small new mortgage allows you to keep your retirement savings invested.

FAQ

  • A HELOC is a Home Equity Line Of Credit
  • A HELOC gives you access to equity in your home. It is best used for short term borrowing and often used for “emergencies” such as replacing a furnace or water heater or doing some renovations on the home. It can be borrowed and paid off as you need it.
  • A HELOC is always in a variable rate based on the Prime Rate
  • You only pay interest on what has been borrowed. If there is no balance on your HELOC, there is no cost to having it

The rule with refinances is that you can only go up to 80% of the home’s value (i.e. if the home is worth $400,000 you can refinance up to $320,000). The remaining 20% equity becomes available if you decide to sell the property.

Because the HELOC has no term and is in a variable rate, you can pay it off at any time penalty free