Financial Resource Centre

Welcome to our Mortgage Blog

Covering everything from home equity loans, second mortgages, debt consolidation and more.

Home Equity Line of Credit

A Primer on Getting a Home Equity Line of Credit

A HELOC, or a home equity line of credit, is a type of revolving loan that is secured against the value of your home. You may borrow and reborrow funds long as it is within your credit limit and only pay it back in full when you reach the repayment ...

Home Equity Line of Credit

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 ...

Home Equity Loans

Borrowing Against Home Equity: The Facts

How to borrow against home equity is a common question from homeowners these days. In these trying times, homeowners are trying to find more ways to leverage their homes to cover their other financial responsibilities. One good way to accomplish that is to borrow against your home equity. Although many ...

Second Mortgages

Facts About Getting A Second Mortgage in Canada

Some people are worried about getting a second mortgage in Canada because they have a lot of questions and are not sure of the answers. Although getting a second mortgage is now more popular than ever, it is understandable that some people may have misgivings about applying for one because ...

Second Mortgages

7 Things You Need to Know to Get a Second Mortgage in 2020

Getting a second mortgage remains as one of the best financial solutions for homeowners who are at a financial bind and need funds. Not everyone has a stash of savings in their bank and when a huge expense comes by, it is comforting to know that you can use your ...

Mortgage Refinancing

Refinancing Your Mortgage for 2020: The Most Important Things to Know

Refinancing your mortgage means breaking your old one and starting a new one either with the same lender or another lender. This allows you to get a lower interest rate, consolidate your debts, or access the home equity you’ve built up on your home. Although a mortgage refinance comes with ...

Debt Consolidation

Debt Consolidation Loans

Debt consolidation loans have ads everywhere, but do they really work? How can a debt consolidation loan help someone who is struggling financially with debt if it is just another type of loan? What makes a debt consolidation loan better than other loans? What is Debt Consolidation? Debt consolidation is ...

Debt Consolidation

What Are Your Debt Consolidation Loan Options in Canada?

With most of Canadian homeowners also having debts of some kind, debt consolidation has become a popular way to manage debt and get out of it faster. A lot of debt consolidation options have become available due to this development, each coming with their set of pros and cons. In ...

Home Equity Line of Credit

Important Things You Need to Know About HELOCs and Second Mortgages

Home equity loans and home equity lines of credit are hot mortgage news topics recently because of changes with mortgage rules and interest rates. There is also quite a lot of misunderstanding from readers thinking that HELOCs and home equity loans are one and the same. In this write-up, we’ll ...