Things That Give Me the Ick as a Mortgage Agent: Sitting on Equity and Never Running the Numbers
Every job has its pet peeves. This short video is mine, delivered with love (and a little eye roll) for homeowners in Barrie, Simcoe County, cottage country and beyond.
The ick list
Things that give me the ick as a mortgage agent: you’ve built real equity in your home, and you’re still convinced you can’t have more. The cottage feels out of reach. The house is too small. The debt keeps piling up.
And somewhere along the way you decided bigger wasn’t for you, and you never let anyone actually run the numbers. That’s the part that really gets me. Not the dream. The never checking.
Why it bugs me
Because that equity sitting in your home could change the math entirely. It isn’t the whole story, and it isn’t the right move for everyone, but it can open doors most homeowners assume are closed.
Depending on your situation, that might mean a HELOC, a cash-out refinance, or consolidating debt that keeps piling up. Maybe it helps you upsize out of the house you’ve outgrown. Maybe it gets you to the dock. Maybe it just gets your month back. Every file is different, and everything is subject to lender approval.
General education, not financial advice. Any figures are illustrative only and subject to lender approval (O.A.C.).
Cure my ick: run the numbers
Here’s the easy fix. Let someone run the numbers before you decide what’s possible. Start with my free Mortgage Toolbox from your phone, or book a free chat and we’ll do it together, no pressure. Worst case, you know where you stand. Best case, you’re picking out paddleboards. Bank said no, or you never asked? Let’s find another path.
Quick questions
What gives you the ick as a mortgage agent?
Homeowners who have built real equity but are convinced they can’t have more, whether that’s a cottage, a bigger home or getting out from under debt, and who never let anyone actually run the numbers.
Can my home equity help me buy a cottage or upsize?
It can change the math. Depending on your situation, options like a HELOC or a cash-out refinance may help. It isn’t right for everyone, so we’d look at your numbers first.
What’s the first step?
Run the numbers. Use my free Mortgage Toolbox, then book a free 15-minute chat and we’ll see what’s actually possible.
Related
Related: Buying a cottage in Muskoka and Ontario cottage country
Related: Upsizing your home in Barrie
Related: Debt consolidation in Barrie when the bank’s ratios won’t work
Let’s find another path
Bank said no? Let’s find another path. Run your own numbers first with my free Mortgage Toolbox (calculators and a pre-qualification you can do from your phone), then book a free 15-minute chat or call or text me at 705-881-2780 when you’re ready. No pressure.
General education, not financial advice. Every situation is different and all financing is subject to lender approval.
Lora Fenn 路 Mortgage Agent Level 1 (#M25003153) 路 DLC Yellow Brick Mortgages 路 Brokerage Licence #13854
