Home Equity Loan

Use the equity in your home to consolidate debts, make purchases or invest.

Secured Home lOans

If you have debts you want to pay, purchases or investments you want to make, you can use the equity in your home to get a low interest home equity mortgage loan.

You build up equity by making mortgage payments over time, and also when the value of your home increases as property prices increase.

Equity is the difference between the mortgage (or debt) outstanding and the appraised value of your home.

 

Make your Home Work For you

You have been working hard for your home, but now you can put your home to work for you. Home equity loans can be used to purchase cars, vacations, college educations, investments, home improvements or other large purchases.

They can also be used to pay down higher interest debts. Since a home equity loan is secured against your home, it is considered a low risk loan by lenders – so they offer low interest rates.

If you have credit card, store card, revolving credit or car loans that are at a high interest rate, you could save a lot of money paying them off with your low interest equity loan. Some lenders will loan up to 90% of the appraised value of your home.

 

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Home Equity Line of Credit (HELOC)

A line of credit lets you borrow and pay back as needed.

With a home equity loan, you get the full amount at the outset when you borrow. With a line of credit, you are approved for a certain amount and can borrow all or it – or any portion – as needed.

You can pay back the amount you borrowed as you are able. You only pay interest for the amount you have borrowed –not for the full amount you are appraised for (unless you borrow to your limit).

As your cash flow and needs change, you can borrow, then pay back and borrow again when you need it. If you don’t need the full amount but want to have access to extra cash as you need it, then a home equity line of credit might be fore you.

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Equity Financing

 

Get Low Interest RateS

More and more Canadians are willing to borrow against the equity in their homes to get the money they need.

Taking equity from your home can be a good idea, but you should understand the implications, benefits and risks.

Jim Black and his team can help you understand your options and choose the right type of equity financing for your needs at the best rates. Call for a confidential consultation.

Financing

Debt Consolidation

Why use a mortgage broker?

We are financing experts with access to low interest rates on lending products tied to the equity in your home.

Poor Credit Mortgage

Even if the banks turn you down, we have access to many lenders and can find you financing.

Mortgage Refinancing

Talk to Jim Black and his team about refinancing your mortgage for a lower rate or for a larger amount so you have the money you need to pay debts, pay for education, make renovations, take a trip or whatever your needs are.