How Much Equity Can You Access?
Your home is likely your largest asset, and over time, you’ve built up equity through payments and appreciation. How much of that equity can you access? Here’s the math.
The 80% Rule
Through a refinance, you can typically borrow up to 80% of your home’s current appraised value, minus your existing mortgage balance. This is called your “loan-to-value” or LTV ratio.
Example Calculation
Home value: $600,000
80% of value: $480,000
Current mortgage: $300,000
Available equity: $180,000
HELOC Limits
A HELOC (Home Equity Line of Credit) has a lower maximum — typically 65% of your home’s value. However, you can combine a mortgage and HELOC to reach 80% total.
What Affects Your Available Equity?
- Current home value: Market appreciation increases your equity
- Mortgage balance: Principal payments build equity
- Improvements: Renovations can increase appraised value
- Market conditions: Local real estate trends impact value
💡 Know Your Value
Before you refinance, get a sense of your home’s current value. Check recent sales in your neighbourhood or request a broker opinion. We can help you estimate before ordering a formal appraisal.
Elevation Mortgage
INDEPENDENT MORTGAGE BROKERS · LICENSED AB & BC
Julie & Andy Jeffery — independent mortgage brokers serving Calgary, Nelson BC,
and clients across Alberta and British Columbia.
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