Borrowing against home equity
Home equity is the difference between the value of your home and how much you owe on your mortgage.
For example, if your home is worth $250,000 and you owe $150,000 on your mortgage, you have $100,000 in home equity.
Original Article Source Credits: Canada.ca , https://www.canada.ca/
Article Written By: NA
Original Article Posted on: 2020-09-17
Link to Original Article: https://www.canada.ca/en/financial-consumer-agency/services/mortgages/borrow-home-equity.html#toc3