Home Equity Mortgage

A Home Equity Mortgage is a mortgage based on the equity of your home and not the people purchasing or refinancing a home. This is a great mortgage for someone who may have no credit, slow credit or bad credit. If you are purchasing a home, a minimum of 20% of your home's appraised value will be required for a down payment. If you are refinancing a home, a minimum of 20% of the property value will need to remain in your home for home equity.

Call a broker at Western Canada Mortgage today to discuss if this mortgage is right for you !