In short, yes, you can refinance your home without paying Landed back.
That said, when you buy a home with Landed, we want to make sure that you’re not putting yourself in a vulnerable position by taking on more debt than you can reasonably afford. That’s why we limit your ability to take out additional home loans that exceed your original mortgage amount. If, over time, you build up additional equity in your home and want to pull out a portion of this equity, you’re free to do so. For instance, once you’ve paid down $200,000 of your original mortgage, you could obtain an additional loan up to the $200,000, as long as it does not put Landed’s investment at risk.
Also, it’s important to remember that it’s entirely your responsibility to pay the mortgage on time every month. Late payments could put your Landed partnership at risk of default. If you’re having any issues paying your mortgage on time, contact us as soon as possible. There are many ways we can help.