Penticton home equity loans can assist home owners with things like, home renovations, business capital, debt consolidation and more. The process unlike the banks is simple. Using your home equity you can borrow up to 80% of your homes value.
Penticton Home Equity Loans are based on the current homes value (this usually requires and Appraisal to confirm value). To figure out how much you qualify for you can use our LTV Calculators or you can times 75% the value of your home – 1st mortgage – LOC or other mortgages = the amount of equity you can pull from your home. 75% is an average LTV loan to value and this can change due to location or a variety of other conditions.
In most cases these types of loans are used to help with cash flow or credit issues. We can assist you in correcting these issues with a home equity loan and work with you to qualify back at a bank usually in one to two years. We also provide home equity loans to do home renovations like kitchen remodels, bathroom remodels as well as additions, you name it we have options that can help.
STEPS INVOLVED WITH APPLYING FOR A PENTICTON HOME EQUITY LOANS?
What will be required to get approved for a Penticton BC equity loan are as follows:
- Application (General Information about you & your home)
- Client Agreement (Signed document pertaining to the information and sharing of information in your application. Also providing written consent to provide a credit report)
- Credit Report (pulled by us on your behalf)
- Mortgage or LOC statements showing balances
- Fire Insurance Policy (to lawyer can place loss payable on your policy)
- Appraisal From One of our Approved Appraisers (Macintosh Appraisals , Niemi Laport & Dowle or others on a considered bases)
- Lawyer or Notary Contact Information