Home Equity

Islanders find that one of the easiest & most affordable ways to access money is through the equity in their home. This is a very popular option, especially when you have an excellent first mortgage in place.

Using home equity to your advantage

Many Islanders have made the decision to purchase their first home during these times of lower interest rates. We’re also in a period where clients more frequently refinance using the equity in their homes to complete renos, invest in an RRSP or TFSA, tuition expenses & consolidation of high interest debt. Removing equity from your home can be a good idea, but you should do so with caution & fully understand the benefits & potential risks. Chat today with Richard MacFarlane at RAM Mortgages PEI about the viability of utilizing the equity in your home.