23 Jul, 2024 line of credit vs mortgage for home renovation

Choosing between a line of credit vs a mortgage is simple once you understand how each one of them works. In this post, we’ll explain the differences between the two most popular home equity loans homeowners can choose from, so you can make an informed decision.

We hope this article will help clarify any questions you might have and give you a roundup on the basics of home equity lines of credit vs mortgages.

28 Apr, 2021 paying a consumer proposal with a mortgage

Usually, when people file a consumer proposal, it is to assist them with debt consolidation by restructuring it all into one manageable payment. Once they’ve done this, homeowners usually see significant cash flow relief but still have this monthly bill looming over them.

If you are living in British Columbia and are looking for debt load relief by paying out your consumer proposal early, then keep reading!

28 Apr, 2021 strata property in bc

The purpose of a depreciation report is to give a standard to follow to all strata and strata companies in BC. This helps condo purchasers and mortgage lenders have a clearer view of the building’s health and the common property associated with it.

In this article, we’ll discuss whether or not depreciation reports are mandatory in British Columbia for purchasing a strata property.

15 May, 2018 Mortgage Deals November 2018

Home equity loans can be used for a variety of reasons even bad credit. When you have bad credit a home equity loan can allow you to payout or negotiate your debts which should improve your credit and improve your chances of qualifying back at a bank in as little as 12 months. Second mortgages are mostly used when consolidating your debts into a bad credit mortgage loan.

2 May, 2018 Self Employed Home Equity Loan

For the self employed it is common to wonder if you can get a home equity loan if you are self employed and have low income. Many self-employed individuals think due to their business for self income that banks & other lenders are less likely to approve them for a home equity loan. Banks do have tougher criteria for approving a HELOC and usually look at things like credit & income documents but there are many products out there that can help.

3 Mar, 2015

Rate Shopper “What is the lowest home equity loan rate you have” is a question I get every day. As rate shopper looking for a BC Home Equity Loans (this does not apply to Home Equity LOC’s to 65% LTV at a bank or financial institution) you are dealing with a product that means for one reason or another you do not qualify under conventional mortgage criteria. Although rate should play a part in every transaction your Mortgage Brokers knowledge in lenders & negotiating terms and conditions is going to be the major factor in determining costs associated with arranging the financing now and possible costs in the future.