How much time does it usually take to secure a home equity loan? About 30 days from the start of the application to funding the mortgage. Should I go for a home equity loan or a home equity line of credit (HELOC)? HELOC gives you freedom to use the funds when you want and pay interest only on what you use. It is also a revolving form of credit. A home Equity loan does not offer these features. Are there any charges associated with applying for a Home Equity loan? There are set up costs from the lender, appraisal cost, legal fees and mortgage broker fees. What is the repayment period for my home equity loan? Usually, the minimum payment is the monthly interest charged by the lender. However, a borrower can pay more if they have the ability.
Home Equity Loans
Home Equity Experts in Ontario
Northwood Mortgage Ltd. is one of Ontario’s largest brokerage firms. If you need a home equity loan, regardless of your personal and financial circumstances, our team of experts at Northwood Mortgage can help.
The term “home equity” refers to the value of the financial interest you have in your home. As you make payments toward your mortgage, your home equity increases. Other factors, such as market conditions, will also affect the value of your property.
When you take out a home equity loan, you’re using the equity you’ve built in your home as collateral for the loan. And, like traditional mortgages, your interest rate is extremely important. At Northwood Mortgage, one of our main goals is to help you get the lowest interest rates possible.
By establishing well-knit relationships with over 103 lenders – including Canada’s central banks, credit unions, trust companies, and mortgage corporations, these relationships allow us to offer you low home equity loan rates.
Reconsider Your Home Equity Loan Rates
One of the largest and most reputable brokerage firms in Ontario, Northwood Mortgage has over 30 years of experience helping homeowners get the best rates on home equity loans in Ontario.
If you’ve been a homeowner for some years now, chances are the value of your home has increased since the time you bought it. When you work with Northwood Mortgage Ltd., we can help you secure a home equity loan that reflects the value of your property.
Whether you need a home equity loan for home renovations and repairs or need an emergency loan to offset other costs, our team of mortgage experts can help you get some of the most affordable home equity loan interest rates in the Ontario market.
Why Choose Us for Home Equity Loan Rates
At Northwood Mortgage Ltd., we are a team of mortgage agents/brokers who help you in the following areas:
- Using the equity in your home to build more value
- Providing you with the best home equity rates
- Getting approval for a first, second, and third mortgage
- Reverse mortgages
- Refinancing your mortgage
- Assisting you to plan for a new home
- Increase your cash flow and pay off high-interest credit cards
- Getting you competitive home equity loan interest rates
Home Equity Loan Services
Looking for a better home equity loan in Ontario?
Our best home equity rates often change, as we get the most competitive short-term rates regularly.
Planning to get a home equity loan?
Try these online tools to help make financial decisions that are right for you.
Self-employed & need a home equity loan in Ontario?
At Northwood Mortgage Ltd. we take the time to assess your financial situation and offer you the most suitable home equity loan interest rates.
Community Involvement
Northwood Mortgage cooperates with an established group of partners that supports the community with local initiatives that share our beliefs and values.
Industry Associations
At Northwood Mortgage, we pride ourselves on having industry associations with several of Canada’s software solutions that assist mortgage brokers and lenders.
As Seen And Heard On
We’ve partnered up with local and national media outlets to connect with people just like you who need financial assistance through mortgage refinancing and the best home equity rates.
Home Equity Loan Resources
Come to Northwood Mortgage for financial consultation on your mortgage as we offer the best home equity loan resources.
Whatever Your Home Equity Needs…We Can Help!
Are you in the market for a home equity loan? Then you have come to the right place.
