You may be able to get a lot more equity than you realize if you are intending on using the new funds to renovate and improve your home. I can guide you through the process of securing a home improvement loan.

The mortgage insurance providers AIG, Genworth and CMHC will insure new mortgages based on the improved value of the home after the modeled and improvements have been completed. Please do note that pools and spas are considered “over improvements,” and such may not qualify for a high-ratio equity take-out and may render your home improvement ineligible. However, if the total requirement is less than 80% of your home’s current value, acquiring the funds for improvements or renovations you may want to complete could prove to be less trouble than expected.