If you want to spend a significant amount of money on improving your home, you may be able to take out a lot more equity than you realized! Both default insurers - CMHC and GE Capital, will insure new mortgages which are "topped up" for this purpose, and the total of your current mortgage and the new funds exceeds 75% of the current home value. Not all improvements are eligible, however. Pools and spas are typical "over-improvements" which may not qualify for a high-ratio equity take-out. Of course, if the total requirement is less than 75% of your home's current value, you should have little trouble getting the "top up" you need - regardless of the degree of luxury you plan to add. Just go to the Mortgage Qualifier and try out your own numbers and circumstances in total confidentiality!