Home Equity Loans
You worked hard for your home, now let your home work for you.
You could be sitting on a gold-mine. As you pay off a mortgage, the market value of a home is accrues over time.
When we talk about equity, we mean the amount of ownership built in a home. This comes from the value of a home minus the total of the mortgage. You can draw out money from your home in various forms to pay off bills, conduct renovations or even go on a vacation.
One such solution is a home equity loan. As the name suggests, this is where a property owner can draw money from the equity built up in their home. The amount that you can take out is based on the value of your home.
How we can help:
Lower interest rate vs. credit cards
Combine your bill payments
Lock in a fixed rate
Feed and grow your other investments
Flexibility of interest-only payments
Finish your college degree
Manage your debt
Use it as retirement income
Use it to renovate your home
Help manage your debt
Cover your emergency expenses
And much more!
Refinancing is the best option for dealing with mortgage and tax arrears!
How we make it happen...
If you own your home, then you can qualify for a loan! It's that easy! Unlike the big banks, we don't focus on a list of factors. At Canadalend.com, we don't fuss over your citizenship, your credit history or your income level. What we do look at, is your home value and outstanding loans. With that we make the process as easy as possible to unlock the equity in your home!
Types of home equity loans
A Fixed-Term Loan is a one-time lump-sum loan that you pay back on a monthly basis. The payments stay the same month to month, so you can easily budget without expecting any surprises.
Homeowners can also take out a line of credit commonly referred to as a HELOC, a ‘Home Equity Line of Credit’. This is available provided you have at least 20% equity in your home and a good credit rating. This provides you with access to funds as you need them on a competitive interest rate.
We offer a range of solutions for all your financial needs!
The licensed mortgage professionals at Canadalend.com want to make sure you understand every aspect of the mortgage process, every step of the way. This includes working out the best amortization period, whether a fixed or variable mortgage is best for your particular situation, or whether you want an accelerated repayment plan. It also means going over the fine print, making sure you understand the terms and conditions, and are fully aware of any costs or penalties.
At Canadalend.com we are dedicated to 5 star customer service. Get in touch with us and a lending specialist will help set up an appointment for a free personal consultation. We will help you review your mortgage options and find the solution that fits your needs!