What is Equity Takeout in Canadian mortgages?
Refinancing to access home equity by paying off existing mortgages and taking a larger new mortgage.
What is the Equity Takeout limit for Canadian mortgages?
Max 80% LTV
Equity Takeout example
Worked example
Property worth $800,000, existing mortgage $400,000 → new $640,000 mortgage = $240,000 cash out.