Unlock your financial freedom with an Ontario Home Equity Loan
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Get a detailed quote that includes payment, fees, and an amortization schedule. There is no obligation and no credit check required to get a quote.
Our Ontario Home Equity Loans come with features you will love
Satisfying your needs with a simplified Ontario Home Equity Loan is what we do
Debt Consolidation
Consolidate your credit card debt and/or high interest loans and improve your credit score at the same time.
Home Improvement
Complete that much needed home repair or start your dream home renovation while increasing the value of your property.
Down Payment
Use funds for a down payment towards the purchase of a new home, a second home or a cottage.
Pay Tax Arrears
Sleep comfortably knowing that your income tax arrears and/or property tax arrears are up to date.
Vacation
Take that much needed vacation that you have been putting off for far too long.
College/University
Fund a post secondary education for you or a loved one that will surely be rewarding.
Personal Emergency
Pay for an unexpected personal emergency here or abroad.
Other
The previous examples are the most common uses for an Ontario home equity loan, however you can use our loans for any purpose.
Pick a loan solution that's right for you
Simple Mortgage Loan
Get up to $100,000 for any purpose
Our easiest approval option. No credit score requirements, no appraisal, and no income confirmation required. Interest rates typically range from 12.99% to 16.99% APR depending on strength of application.
No Payment Mortgage
Get up to $75,000 with no payments for 1 year
One year no monthly payment option for those that require short term payment relief. Interest rates typically range from 12.99% to 16.99% APR depending on strength of application.
Economy Mortgage Loan
Get $40,000 - $200,000 for any purpose
Our economy option has a 7.99% APR for a closed term or an 8.99% APR for an open term. Proof of income and a credit score of 595 or higher required.
Finally, a home equity loan program that puts Ontario homeowners' needs first
Easy Application
Our online application uses 2048-bit encryption technology for your safety, is simple to use, and can be completed at any time from the comfort of your home.
Fast Decision
You can usually expect to receive a decision within one business day after completing our online application and submitting requested documentation.
Direct Deposit of Funds
Funds are direct deposited into your bank account within 48 hours of signing all mortgage documents.
Loan Repayment
Pre-authorized payments are withdrawn automatically on the same dates every month, making payment dates easy to remember and effortless. All open loans are completely open for repayment after 180 days without penalty.
Frequently asked question's about Ontario Home Equity Loans
What is your interest rate?
Payments for our Economy Mortgage loans are calculated using a fixed rate of 7.99% annual percentage rate for closed terms and an 8.99% annual percentage rate for open terms. Our interest rates for all other mortgage loans range from 9.99% to 16.99% APR depending on strength of application.
Do you provide loans for self employed people?
Yes we do. Self employed people are the backbone of our economy and we are here to support you.
What documents do I have to provide you with?
The first step is to complete our online application. Once we receive your application we will send you an email with a list of documents that we will require to process your application. Typical documents we require are two pieces of identification for each applicant, a copy of your mortgage statement(s) for existing mortgage(s), a picture of a void cheque and a picture of each applicant holding one piece of their identification. For our Economy Mortgage we will also require proof of income and a full copy of your cell phone statement. We will also send a document package to you that can be signed digitally by clicking on signature boxes that are embedded on the document package.
What type of identification do you require?
For identification purposes we can only accept a picture of a Driver's License, a Passport, or a Canadian Citizenship Card.
Do I have to be a homeowner?
Yes, these loan programs are only available for existing homeowners in Ontario, Canada.
Are there any set up fees associated with your loans?
Yes, there are reasonable set up fees that vary depending on the dollar amount being borrowed which is added to the loan amount. The set up fees will be fully disclosed to you in a document package prior to signing any documents. There is also a reasonable processing fee on each payment (approximately $9.99/month). Some loans may be subject to legal fees and an appraisal fee.
What if I have bad credit?
We understand that life challenges are often unavoidable and can impact a person's credit score. For this reason we will consider applicants with lower credit scores that many other financial institutions will not.
What if I already have a mortgage on my home?
We will provide you with a loan without having to make any changes to your existing first mortgage as long as there is sufficient equity in your home to support an approval. We will do this at the same interest rate that you would pay if there was not an existing mortgage on your home, which is 7.99% annual percentage rate for closed terms and 8.99% annual percentage rate for open terms with our Economy Mortgage loans. Rates for all other mortgage loans range from 9.99% to 16.99% APR depending on strength of application.
What areas do you service?
We provide home equity loans in all major cities and towns across Ontario as well as most most rural areas including but not limited to:
Ajax, Ancaster, Aurora, Bancroft, Barrie, Belleville, Bowmanville, Bradford, Brampton, Brantford, Burlington, Cambridge, Chatham, Clarington, Cobourg, Collingwood, Courtice, Durham Region, Etobicoke, Georgian Bay, Gravenhurst, GTA, Guelph, Halton Region, Hamilton, Kawartha Lakes, Kingston, Kitchener, Lindsay, London, Orillia, Owen Sound, Maple, Markham, Milton, Midland, Mississauga, Newmarket, Niagara Falls, North Bay, North York, Oakville, Orangeville, Oshawa, Ottawa, Peel Region, Peterborough, Pickering, Port Hope, Port Perry, Richmond Hill, Sarnia, Sault Saint Marie, Scarborough, Simcoe County, St. Catherines, Stouffville, Sudbury, Thornhill, Timmins, Toronto, Unionville, Uxbridge, Vaughan, Wasaga Beach, Waterloo, Whitby, Windsor, Woodbridge, York Region.
Get in touch with us
Our team is here to help!
Telephone
1-855-905-7283
Hours
Mon-Fri 9:00am-7:00pm
Sat 9:00am-1:00pm
Sun Closed