You have endeavored to expand the value of your home and this moment may be the opportunity to get the value, working for you. You might meet all requirements to up to 95%* worth of your home (Normally 80%) - probably the greatest resource you might claim.
As long as the combined balance doesn't go over 90% of the property's value, you can combine any existing second mortgages you have on the same property into a new first mortgage. One thing to keep in mind here is that only outstanding amounts can be combined - any discharge penalties and costs must be paid separately at closing if the new mortgage is over 75% of the property's value. Additionally, normal CMHC/GE Capital premiums and guidelines apply if the new mortgage is over 75% of the property's value .