What is Home Equity?

The difference between the appraised value of your home and the unpaid balance of your current mortgage makes up your home equity.

You can grow your equity by paying down your mortgage, but it can also grow on its own if the appraised market value of your home increases over time.

For example, if your home is worth $350,000 and you still owe $250,000 on your current mortgage, you would have built up $100,000 in home equity.

Reviews

4 member reviews
    By Mark
    Thank you Canadalend for helping me with mortgage approval advice.
    so hellpful with their responses to mortgage related questions
    The Canadalend team helped me when I had no where else to turn. Thank you so much
    By Flux
    Very Helpful financing and lending information!
featured_on