Readvanceable mortgages are mortgages and a line of credit in one. They let you easily re-borrow principal that you’ve already paid off.
The main benefit of a readvanceable mortgage is that it provides a low-cost source of cash for things like renovations, business use, emergencies and investments.
intelliMortgage’s Rob McLister talks about the investing uses of a readvanceable mortgage in these two Ottawa Sun stories:
Please note: The above is not investment advice. Seek professional guidance from a licensed financial advisor before initiating any use of debt for investment purposes.