For most Canadian homeowners, it is a sound financial decision to secure a sizeable mortgage at a low-interest rate by borrowing against their built-up home equity.
A property’s built-up equity is considered an important asset, as it can help you finance your investments.
By using your house as collateral, it ensures the loan is guaranteed to allow an individual to borrow a substantial amount of funds.
The advantage of a home equity loan is that the interest rates are low when compared to a personal line of credit or credit card.