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Top Uses for Home Equity Loans in Canada

Getting a home equity loan is one of the increasingly popular ways for Canadians to take advantage of current low-interest rates and increasing house prices. Below are the top uses that Canadians are utilising their home equity loans for. Funding Home Renovation A home equity loan is a smart way to raise funds for home […]

How to Finance Home Improvements to Improve Home Equity

Home improvement projects to improve home equity brings in good returns, however, they come at a cost too. Luckily for homeowners, they can take out a line of credit, get a home equity loan, or try a refinance to fund such projects. If you’re wondering what financing option would be best for you, read on […]

Should You Apply for A Second Mortgage During the COVID-19 Pandemic?

Many individuals are experiencing financial difficulties at this time and may be tempted to apply for a second mortgage to meet their financial needs. Some people choose to apply for a second mortgage to consolidate their debts, use as a down payment for another property, to fund a business, or to pay for home improvement. […]

How Second Mortgages Work

A second mortgage allows you to borrow against the asset that you have built in your home. If you own a home and have been paying your mortgage, you are building home equity that can be accessed with the help of a second mortgage. This will help you use your asset for your projects without […]

Pros and Cons of Home Equity Loans

Getting a home equity loan is not a decision that can be taken lightly. As a type of second mortgage, applying for a home equity loan means borrowing against your home equity or getting a loan with your home as the collateral. Inability to pay back the loan can mean losing one’s home. How to […]

Second Mortgage Cost, Alternatives, and More

Getting a second mortgage is a popular way to access home equity, but not everyone is well-versed with it. As a homeowner, you may have heard of a second mortgage and perhaps considering applying for one right now. Before you do so, make sure to read up on the things to know when getting a […]

Using a HELOC to Supplement Lost Income Due to COVID-19

COVID-19 has been causing fear and panic worldwide, making people shutdown businesses and go on a rampage at the stock market. It is no secret that millions of people are dealing with revenue and income losses. Aside from losing paychecks, people are facing overall financial uncertainty because health experts are warning that the current situation […]