A mortgage that lets you access the equity in your home.

The Alterna Multi-Option Mortgage lets you combine your home financing and credit options, all within one account. 

How does the Alterna Multi-Option Mortgage work?

If you currently have more than 20% equity in your home, you can access additional credit worth up to 80% of your home's current market value. In other words, your mortgage and other loans can total up to 80% of the appraised value of your home.

Over time, as you pay down your mortgage, you can easily draw on this growing equity you have in your home.

You can use your Multi-Option Mortgage to get the credit you need. Whether you want to do some renovations, take a vacation or want the comfort of knowing you have access to “just-in-case” funds, you’re covered.

For example: Janet and Bob have paid down half of their mortgage (originally, seven years ago, it was $400,000. Now it’s $200,000). They’d like to do some renovations and buy a car. A Multi-Option Mortgage can provide them with the money they need, at a lower interest rate than other finance options.

That would mean Janet and Bob’s Muiti-Option Mortgage portfolio could look like this:

Contact an Alterna mortgage specialist to find out how you can make the most of the equity in your home.