Home Equity Loans
At Home Credits we have many different home equity loan programs.
Although in many cases it is cheaper for you to rewrite your existing mortgage, there are those circumstances where it is in your best interest to take a home equity loan.
Let us guide you through the process and select a product that is tailored to your needs and goals.
Some homeowners turn to home equity loans in order to finance renovations, repairs, or to consolidate debts. With Home Credits Mortgages, a trusted and leading mortgage company, you will have access to many different home equity loan programs that are well-suited for your particular financial needs. You will not get locked into a program that does not meet your needs.
What is a Home Equity Loan?
A home equity loan, or home equity line of credit, allows homeowners to borrow money using their home’s equity (the difference between how much the home is worth and how much is left on the mortgage) as collateral. Typically, this results in lower interest rates than unsecured loans and lines of credit.
There are different types of home equity loans. In general, there are home equity loans and home equity lines of credits. Both are set up to be paid back over a shorter time period than traditional mortgages, typically anywhere between 5 and 15 years.
A home equity loan works like a traditional loan. An amount is paid to the borrower at the beginning of the loan. It is paid back over a set length of time, typically with a fixed interest rate. A home equity line of credit works differently in the way that it works like a credit card. A home equity line of credit allows homeowners to borrow a certain amount and withdraw funds as they need them. The advantage of a home equity line of credit is in its flexibility.
Although it is typically cheaper to rewrite your existing mortgage, there are times when it makes more financial sense to take out a home equity loan. With trusted, licensed mortgage professionals on your side, we take the time to discuss all of your options and explain the risks involved so that you can feel confident that a home equity loan is right for you.
Home Credits Mortgages: Your Trusted Mortgage Company
Home Credits Mortgages is your trusted mortgage company, home to trusted and licensed mortgage professionals. Home Credits is a leader in the industry for a reason; we put the customer first. We take the time to discuss your options with you, so you feel confident that your financial goals are met. On top of this, we offer fast approvals and an easy, streamlined loan process.
Services We Offer
In addition to home equity loans, we also offer:
Apply for a home equity loan in 30 seconds here and receive approval within 24-48 hours. We also offer free consultations, which you can request here. If you prefer, you can call us toll free at 1-888-777-9002
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Grow And Succeed
Why rely on only one or two lease-sources when you can have over 30 specialty lease-funding sources in Canada and the United States.
Creative and flexible, Home Credits can break up large-dollar transactions into multiple leases across a number of funders to ease and simplify the approval process.
