EQUITY ACCESS
The equity in your home is the difference between what you owe and your home’s market value. Over time, the value of your home will be increased, which means you can access the equity of your home.
By unlocking the equity in your home, you can access funds that will help you with:
Why take advantage of the equity in your home?
When borrowers have equity in their home, it is often one of the most valuable assets they hold. This person would save a significant amount of equity if he owned the property for years as the property’s value increases over time. The best way for homeowners to get the money they need is by acquiring equity to take out a mortgage. Loans secured with property offer better rates than others secured by other means or unsecured entirely.
How to acquire equity take out?
The AG Mortgage Team will offer you several available equity access solutions. If you are thinking about borrowing against that equity, we will work with you and provide you with the best solution for your needs.
REQUIRED DOCUMENTS FOR YOUR MORTGAGE
Current employment status and income amount as:
- Copy of current payroll.
- Proof of current electronic deposited pay.
- Associated Notice of Assessment (NOA) & T1 General.
- Additional income sources (if any).
- Prior employment status (if required).
- A List of your current assets and obligations.
- Bank account alongside transit number for payments.
- CIBC Pre-approved Mortgage Certificate (if valid).
- Statement of investments from within the latest 90 days or savings.
- Withdrawing an amount from RRSP through Homebuyer’s Plan (if valid).
- Gift letter.
- Copy of the sale agreement of a sold current asset.
- A copy of the real estate listing.
- A copy of the sale agreement and accepted purchase.
- Full address of the property (legal description and postal code).
- Tax estimates of the property, heating costs, and condo fees (commonly, you may find these details on the real estate listing).
- Well and septic certificate regarding rural properties.
- Lawyer’s full details (name – address – telephone and fax number – postal code).
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