- 1260 Eglinton Ave East, Suite 1 Mississauga Ontario L4W 1K8
- (289) 804-0857
- Monday through Friday, 9AM to 8PM
Menu
For most Canadian homeowners, it is a sound financial decision to secure a sizeable mortgage at a low-interest rate by borrowing against their built-up home equity. A property’s built-up equity is considered an important asset, as it can help you finance your investments. By using your house as collateral, it ensures the loan is guaranteed to allow an individual to borrow a substantial amount of funds. The advantage of a home equity loan is that the interest rates are low when compared to a personal line of credit or credit card.
Do not let the stress of choosing the right lender. The team at Good Advice For a Better Life can help identify the correct loan that suits your specific needs. To find out more information, schedule an initial consultation with our loan experts.
The most important reason to choose a home equity is that banks and other financial lenders approving loans based on one’ built-up equity in their property are guaranteed the lowest interest rates compared to other loan options. If you have credit card debt, you can refinance it with a loan as the rates are low and free from tax.
Individuals with poor credit scores can still qualify it instead of other types of loans. Borrowers that find it hard to secure a loan with a lower interest rate should consider applying for a home equity loan.
It matters if the borrower has a good credit score and they are considering taking a loan against their property's valuation to secure a large sum of money. If you find yourself in a position that needs to borrow a substantial amount of money, a home equity is a fantastic alternative.
Another significant benefit of choosing a home equity is that the interest you pay on loan can be tax-deferred. You have to check with the advisors at Good Advice For a Better Life to find out more details.
If you are someone that is carrying high-interest debt, you can take out a loan based on your home equity and save a lot of money on interest if your credit score is good. This will allow you to pay off your debts quickly.
If you are based in the Ontario region and are looking to apply for a home equity loan, get in touch with our team today at (289) 804-0857 to schedule an appointment or for further enquiries.