CWB Canadian Western Bank

HOMEWORKS® 

Put your home to work for you.

Turn your home equity into a flexible tool you can use to pay off debt, grow your investments, save or spend, all while reducing your interest rate. A HOMEWORKS plan will let you:

  • Segment your debt into two or three different lines of credit, mortgages or loans.
  • Use a low interest rate with your current monthly payments and reduce debt faster or lower your payments to have more money at your disposal.
  • Pay interest only on the amount you use1.
  • Pay as little as you want, as long as you meet the minimum monthly payment.
  • Mix and match HOMEWORKS with other banking products, split your mortgage between variable and fixed rates, or customize it to meet your current needs.
  • Consolidation of current debt into one consistent monthly payment
  • Access up to 65% of the value of your home (less any outstanding mortgages) as a line of credit or up to 80% as a mortgage
  • $200 towards legal or appraisal fees2
  • FREE standard chequing account
  • $15 off the cost of a safe deposit box

Your old plan:

Amount

Rate3

Monthly payment

Mortgage

$200,000

6%

$1,432

Car loan

$13,000

6.5%

$254

Credit card

$3,000

19%

$151

Line of credit           

$8,000

7%

$350

Total

$224,000

$2,187

 

Your new plan:

 

 Amount

Rate3

Monthly payment

 HOMEWORKS loan

$224,000 

5% 

$1,200 

Get started now

Stop by your local branch or call today to get started. One of our personal banking specialists will be pleased to help you.

Find a branch near you

1Lines of credit only

2Only once per HOMEWORKS plan

3Rates are for illustrative use only