Mortgage refinance loan – For major renovations, refinancing your mortgage loan allows you to spread the repayment over a long period of time at a mortgage interest rate, which is generally much lower than credit card interest rates. credit or other types of loans. This form of financing can allow you to borrow up to 80% of the appraised value of your home (minus the outstanding balance of your mortgage). Initial fees, including legal fees and appraisal fees, may apply. extend your house price
Source: cmhc-schl
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