Equity Mortgage Loans and Home Equity Lines of Credit in Toronto, ON
Are you looking for a way to get some extra cash on hand? If you've built up a fair amount of equity in your property, then securing the financing you need may be easier than you think. We offer equity mortgage loans to qualified borrowers looking for some extra funds at competitive interest rates.
We also offer solutions for clients with bruised credit, self-employed individuals, or individuals looking to pay out consumer proposal.
The Funding You Need
We go out of our way to offer great rates and excellent service. We understand that the loan application process can be cumbersome and confusing. That's why we'll work with you every step of the way. We pride ourselves on our commitment to customer satisfaction and helpful, knowledgeable team. And no matter your current financial situation, we welcome you to contact us to learn more about your financing options.
Here are some advantageous ways to maximize the use of your equity:
- Buy a vacation home or investment property.
- Invest in your child's education.
- Consolidate outstanding debt.
- Take advantage of lower interest rates to save you money.
But first you'll need to calculate how much equity you have in your home. Meaning, the price for which your home could be sold on the market today, less any debts registered against the property, such as mortgages and secured credit lines. Here is a basic calculation to help you determine your amount of equity:
Current Market Value - All Debts Registered Against It = Available Equity
HOW MUCH OF MY EQUITY CAN I USE?
You may qualify to refinance up to 80% of the value of your home. Here are some questions to ask yourself when determining how much equity you should leverage:
- What is the estimated amount needed to accomplish my goals?
- Do I have sufficient savings to cover any unforeseen future expenditures?
- How much can I comfortably afford to pay monthly for my mortgage payment?
- What is my current interest rate?
- How far into my current term am I?
- Do I have to refinance or can I apply for a Home Equity Line of Credit?
- What are the costs involved to refinance?
- How can I apply for Home Equity Line of Credit?
If you're looking to capitalize on your property's equity, we want to help. We will review all the options available to you, taking into account your financial goals, future and current lifestyle needs, and personal preferences to help you determine the right strategy for you.
Call us today at 647-893-2535 for more information about our equity mortgage loans or to schedule a free consultation.
Information provided by Snezhana Todorova, Mortgage Agent, Lic #M13000122. Dominion Lending Centres Mortgage Watch Lic#12044.
Snezhana can be reached at 647-893-2535 or firstname.lastname@example.org