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Home Equity Loans

Home Equity Loan Benefits

  • Renovate to Increase the Value of Your Home
  • Reduce your monthly payments
  • Consolidate High Interest Debts
  • Get Cash

What is a Home Equity Loan?

Home Equity Loans TorontoIf you would like to borrow money using the equity in your home as collateral, a home equity loan may be right for you. A home equity loan is a type of mortgage that enables you to borrow money using your home’s equity as security for the loan. Equity is defined as the appraised value of your home minus the amount owed on the home. Home equity loans are sometimes also called second mortgages.

Use the Funds to Renovate

Home renovations can be expensive, and a home equity loan can be a cost effective way to finance home improvements. A newly renovated home is not only beautiful, but well chosen renovations can dramatically increase the value of your home in the long run, so home improvements are often a wise investment.

Save Money by Consolidating High Interest Debt

Many homeowners are unaware that a home equity loan can be used to restructure your finances by consolidating numerous debts, credit cards, loan payments and other bills into one low convenient monthly payment that can save you money. The new consolidated payment is more manageable, and often increases the homeowner’s cash flow. A debt consolidation can also improve your credit score!

Obtain Cash for Other Reasons

Do you require cash for other reasons? One of the benefits of a home equity loan is that the funds can be used for almost anything – pay for school, buy a vacation property or investment property, finance a business, and more. Whatever your goals or dreams, a home equity loan can provide the funds to make them a reality.

When is the Ideal Time to Obtain a Home Equity Loan?

You can apply for a home equity loan at any time. If you require funds quickly, and at a great rate and an affordable payment, we can help. It doesn’t matter if you need $20,000, $40,000, or $100,000 or more, we have home equity loans that can meet your needs. Call us today to find out which home equity loan is the right choice for you.

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