Is there an ideal % or ratio at which to refinance a property?

[Jan Walczak]

I'll keep the numbers simple to better explain my question.

I own a 1m home with a mortgage of 400k in Toronto (60% equity). There's 600k I would like to get access to.

- Is there a general rule or ratio at which you should withdraw equity (Refi / HELOC)?

ex 1) 50% ratio (I get 100k from bank - Mortgage is now 500k)

ex 2) 60% ratio (I get 200k from bank - Mortgage is now 600k)

The reason I ask is as far as I understand the more equity you have stuck inside your home the less your money is working. Is there a ratio you follow to ensure optimal usage of home equity?