Can I Pull Out Additional Funds with a Consolidation Mortgage?

Author: Boychuk Mortgage Group |

With debt consolidation mortgages, you will have the added pleasure of accessing additional funds should you want to tap into your equity. Lenders will lend up to 80% of your homes current value, less your current mortgage and accumulated debts that you wish you consolidate.
You will have the opportunity to pull out additional funds above the debts you’re consolidating for many reasons. Some of those include for the purpose of home renovations, investments, buying a new car, purchasing a rental property, family expenses, and more.