Home Equity Loans
Your home equity is the difference between your home’s value and the unpaid portion of your mortgage. When you get a home equity loan, you borrow money against the equity in your home. Because your home’s equity is used as collateral, home equity loans typically come with better interest rates than other unsecured loans.
Your home equity is the difference between your home’s value and the unpaid remainder of your mortgage.
If you need a small sum of cash quickly, home equity loans are probably not the best solutions. Home equity loans are usually quite large and getting one that’s less than $20,000 will be difficult. On top of that, a home equity loan also comes with extra costs when compared to mortgages including:
- Origination fees
- Loan processing fees
- Home appraisal fees
- Monthly repayments
However, if you need a larger loan, home equity loans might be a good idea. We can help you get the home equity loan you need. All you need to do is fill out a simple application – it will only take a few minutes! You can then speak to one of our agents who will be able to provide you with unbiased mortgage advice and can match you with the right home equity lender if you want to obtain a home equity loan.