Not sure if this applicable in Canada, but in US you can take a loan backed by home equity. It’s called HELOC and is independent from your mortgage - it will not change interest rates. The rates on HELOC are higher than current mortgage rates, but lower than credit card rates. The available amount depends on how much equity you have in your house.
Not sure if this applicable in Canada, but in US you can take a loan backed by home equity. It’s called HELOC and is independent from your mortgage - it will not change interest rates. The rates on HELOC are higher than current mortgage rates, but lower than credit card rates. The available amount depends on how much equity you have in your house.