Home Equity Loans BC

Home Equity Loans are a fast and easy way to obtain money using your home as collateral. If you own a home in BC we can provide you with the right lender a great equity loan rate. Home equity loans unlike HELOC through your bank do not require as much proof of income or credit.  Approvals can take as little as 24h and we have lenders that can fund fast. Give me a call today to talk about your situation and I can provide options right over the phone or provide you with an application you can fill out for fast approval.Apply Now

Home Equity Loan Pre Approvals In As Little As 24hrs Call Now!

CALL NOW TO GET APPROVED 1.877.744.3436
Mortgage Broker YourEquity.ca

BC Home Equity Loans

 CALL NOW TO GET APPROVED 1.877.744.3436

How We Match You With The Best Home Equity Loan

  • Independent Review Of Your Personal Situation
  • Your Needs Wishes
  • Your Documentation Some Verified and Some Stated
  • Estimated Time You Require Financing
  • Market Evaluation Of Lenders (to determine rates & terms that best suits your needs)
  • Are There Current Rate Specials Offered By Lenders (When Lenders Have Lots Of Money Available They Offer It Out At Discounted Rates and We Pass That Savings Onto You)
  • Some Lenders We Have Direct & Some Are Indirect. We Match You With The Right One For YOU!!
  • Offer or Offers and Our Review (not all offers can be compared apples to apples)
  • A Complete Review of Your Income & Credit Situation to Help Guide You for Improvement.

Funds Available for  from $10,000 to $2,500,000 & More.

“Many Canadians pay too much forMortgage Broker equity mortgage BC a Home Equity Loans. They do not understand the complicated process of negotiating the Best Terms for a Home Equity Loan. Its not always about rate, which comes as a complete shock to most of my clients. 

With my past experience working for Equity Lending Firms I bring a unique outlook and a wealth of knowledge.” APPLY NOW! or look through my site for more information to help you find and evaluate the Pros & Cons of getting home equity loans. You can easily compare Rates by loan type, or use our mortgage calculators to compare payments.  I am here for you to call with any questions.
Online Home Equity Loans BC

CALL US NOW
Toll free 1-877-744-3436
Vancouver 778-839-3963
Okanagan 778-476-5500

Available 9 AM To 9 PM

7 Days a Week

HOW REFINANCING YOUR MORTGAGE CAN HELP REDUCE PAYMENTS

Refinancing an existing mortgage can lower your payment, provide you with a lump sum of cash, or allow you to Consolidate Debts. To lower your payment, you have to refinance with a lower rate mortgage, or lengthen the loan’s maturity. To consolidate or cash out, you must have sufficient equity in your home. This comes from an increase in the home’s value, or from a decrease in your mortgage loan balance. Feel free to call your Vancouver BC Mortgage Broker or Apply Online

HOW DOES A HOME EQUITY LOAN WORK

Home equity loans usually creates a Second Charge against the borrower’s house, and reduces actual homes equity. Most high ratio Home Equity LOC (HELOC) require a good credit and proof of income. While bad credit home equity loans are secured by a lower LTV (loan to value) and are a lot easier to qualify for. A equity loan is usually, but not always, for a shorter term than 1st Mortgages. Call or email today and I will go over all the details with you.

COMPARE HOME EQUITY LOANS

The key to getting the best rate and value on a home equity loan is comparison shopping. Once you understand the options available to you, you can start comparing interest rates and gathering lender quotes. Don’t assume that you’ll be offered a lender’s lowest advertised rate. These are reserved for borrowers with above-average credit. If you have bad credit, it might be helpful to review BC rates by credit quality and loan type.

As you collect quotes, take care to compare your options on an apples-to-apples basis. Some mortgage rate quotes, may assume the upfront payment of points, while others may be quoted without points.

REVIEW LIST STEP BY STEP

  • Review and compare market rates
  • BC lenders & brokers
  • Contact lenders & brokers to request quotes
  • Calculate payments and amortization tables for different loan types

For more information on MORTGAGE RATES  click here

Disclosure & “Loan Examples” Below

Jeff Di Lorenzo of, The Mortgage Group Canada Inc. provides sub mortgage broking services. My goal is to find you the combination of best rate & terms for your individual needs. If clients are searching for a Home Equity Loan I provide to all my clients a copy of the BC Fixed Credit Disclosure Statement and Borrowers Conflict of Interest Disclosure Statement Form 10 – Section 17.3 to help to assist them with their decision making. The decision to obtain a home equity loans should be carefully considered due to the higher rate of interest and costs associated with this type of mortgage finance. I strive to keep in mind my client’s individual needs and goals when shopping for the best deal. To meet googles personal loan policy which Google states home equity loans fall under, I am required to provide the highest (APR) which includes interest rate plus fees and other costs market lenders may provide. In most cases this in not indicative of the type of financing I look to obtain for clients.

The APR will increase / decrease in the event of higher / lower Fees Mortgage Amounts/ Interest Rates. The highest APR I Provided would be 34% and the lowest APR Provided 7.49%. Term lengths can be as short as 12 months and amortizations can be Interest only or 40 years 30 years 25 years or less.

First Mortgage *

Example #1 Low Cost:

Advance Amount $300,000 Monthly Payment $1,437.50 Interest Rate 5.75%

Real Estate Required Yes

Term 1-years

APR 7.603%

Total Proceeds to borrower $294,790

Example #1 High Cost:

Advance Amount $300,000 Monthly Payment $1,875.00 Interest Rate 7.5%

Real Estate Required Yes

Term 1-year

APR 15.103%

Total Proceeds to borrower $277,540

Second Mortgage *

Example # 2 Low Cost:

Advance Amount $100,000 Monthly Payment $575 Interest Rate 6.9%

Real Estate Required Yes

Term 1-years

APR 10.210%

Total Proceeds to borrower $97,040

Example # 2 High Cost:

Advance Amount $100,000 Monthly Payment $1,000.00 Interest Rate 12%

Real Estate Required Yes

Term 1-year

APR 25.810%

Total Proceeds to borrower $86,540.00

 

The examples are all based on interest only monthly payments (you may elect to pick a shorter amortization to pay off the mortgage off sooner)

The difference between the Gross Amount and Net amount represents closing costs which includes items such as legal fees, appraisals, brokerage fees, lender fees. (Fees) payout penalty’s of max 3 months etc and renewal fees.

These examples are a representation of the broad range of products in the industry. Rates are subject to change so call me to negotiate terms and rates that will best suit your individual needs. Locations, property type & personal application details effect each mortgage. Call so I can provide a fee assessment of your personal situation.

 

 

Home Equity Loans service areas in British Columbia Canada

Metro Vancouver Lower Mainland: Surrey BC , Vancouver BC, Richmond BC, Burnaby BC, Abbotsford BC, Chilliwack BC, Coquitlam BC, Port Coquitlam BC, Pitt Meadows BC, Maple Ridge BC, West Vancouver BC, North Vancouver BC, Port Moody BC, New Westminster BC, Delta BC,  White Rock BC, Langley BC,  Mission BC,

BC Okanagan  Armstrong BC, Chase BC, Penticton BC, Revelstoke BC, Kamloops BC, Kelowna BC, Merrit BC, Salmon Arm, Vernon BC,

Vancouver Isalnd: Victoria BC, Saanich BC, Esquimalt BC, Oak Bay BC, Colwood BC, Langford BC, Sooke BC, Campbell River BC, Chemainus, Comox BC, Courtenay BC, Cumberland BC, Duncan BC, Ladysmith BC, Lake Cowichan BC, Nanaimo BC, Parksville BC, Port Alberni BC, Qualicum BC, Sidney BC,

Kootenays of British Columbia Cranbrook BC, Kimberley BC, Nelson BC, Castelgar BC, Trail BC, Revelstoke BC.