Free guide · 11 pages
The Homeowner’s Equity Playbook
Most homeowners have no idea how much their house has quietly made them. This walks you through what your equity is, the five moves people actually make with it, what each option costs, and how the whole process works. In plain words, with no pitch.
- What your equity really is, and how to work it out
- The five moves homeowners make, and who each one suits
- Refinance, HELOC, second mortgage and bridge financing compared
- What it costs, including the fees nobody mentions
- A five-minute readiness checklist
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Lora Fenn · Mortgage Maven
What is inside
Eleven pages, written the way I would explain it at your kitchen table.
- What “home equity” really means. The simple formula, and a worked example.
- How equity builds over time. The two forces at work, and what a softer market changes.
- The five moves homeowners make. Upsizing, renovating, the cottage, a rental, and clearing high-interest debt.
- The tools that make it happen. Cash-out refinance, HELOC, second mortgage and bridge financing, and who each one suits.
- A comparison table. Limits, how you get the money, and what each is best for.
- Smart moves and costly mistakes. Including the ones I talk people out of.
- What happens next. The whole process, start to funding day.
- What it costs. Appraisal, legal, title, discharge fees and penalties, with real numbers.
Who it is for
Ontario homeowners who have owned for a few years and suspect there is something there, but have never had anyone walk them through it. If the month feels tight, or the house feels small, or a place on the lake has been on the list for a decade, this is written for you.
It is not a sales brochure. There are sections in it telling you when using your equity is the wrong move.
Rather just talk it through?
The guide is there to make the conversation easier, not to replace it. If you would rather skip ahead and look at your own numbers, that is a fifteen minute call and it costs nothing.
This is where I explain most of this
Short, plain-language answers to the questions homeowners actually ask, plus a fair amount of the lake.
Follow along on InstagramGeneral education, not financial advice. Figures are illustrative and subject to lender approval (O.A.C.). Lora Fenn, Mortgage Agent Level 1, Lic. #M25003153. Dominion Lending Centres YBM Group, FSRA #11129.