Home Equity Loan
Improve your financial security with a home equity loan.
Do you have equity in your home but find yourself cash poor? Home equity loans can improve your finances today. Because they are secured on property, home equity loan rates are lower than unsecured loans and thus are considered fundamental financial planning tools.
Why should I use a Home Equity Loan?
A Home equity loan makes your family’s financial life easier in many ways:
- Extend cash reserves – be prepared for the unexpected.
- Home equity loans consolidate multiple debts into one monthly payment.
- A home equity loan transfers your illiquid home equity into a pool of liquid cash to use as needed.
- Adapt repayment terms to suit your needs
- A home equity loan allows you to access up to 90% of your home equity.
- Historically low home equity loan rates save money. Use the home equity loan calculator on this site to see how much you can save.
Canadian Mortgage Brokers Help you find the best Home Equity loan rates and terms
Rates are not the only factor when shopping for a home equity loan. Canada has numerous ways to access the equity in your home – a home equity line of credit (HELOC) , second mortgages, etc. The kind of home equity loan you use depends on your circumstances. There are different types of home equity loans and alternate ways to access your home equity.
- Choose a home equity line of credit if you don’t need a lump sum right away
- For a major expense or to consolidate multiple debts, second mortgages may make sense.
Mortgage Brokers advise you and help you shop for the best home equity loan. Canada is filled with mortgage products. We help sort through them all to find one that suits your needs.
CMI Helps Homeowners Find the Best Home equity loan rates and terms
CMI’s mortgage brokers don’t work for a single financial institution but a network of over a 100 lenders. That’s a huge market place of home equity loans. Canada has no shortage of home equity products and our brokers will help you find them.
- We’ll make sure you’re getting the lowest rates
- We’ll teach you about mortgages so you know your options
- We’ll help navigate the paperwork
- We’ll make sure there are no predatory terms hidden in small print
Taking out a home equity loan is a significant decision that you should not make on your own. Contact a CMI mortgage specialist for a free consultation.