Equity loans maximize loan-to-value ratios
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Quickly unlock and access your home’s equity value
A home equity loan is a loan secondary to your mortgage that you can take out on your home. It is based on the equity you have built in your home, which is essentially the difference between what you have paid toward your mortgage, what remains to pay on your mortgage, and your home’s overall value. Though you can use the funds you receive based on your home’s equity in any way you would like - whether to consolidate credit card debt, pay off tax liabilities, or even take a dream vacation - the loan is still secured by your home, and defaulting could lead to foreclosure.
Many homeowners across Canada rely on home equity loans to see them through difficult financial situations. They act somewhat like a revolving line of credit in that you can borrow from your home’s equity, and as you repay your loan, your home gains that equity back. Contact our home equity loan experts today to learn more about our financial solutions.