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a man applying for a debt consolidation loan form
Mortgage Tips

How to Consolidate My Debt Using a Second Mortgage?  

Are you aching to alleviate your financial burden? With debt management shaping financial decisions for many Canadians, it is crucial to gain insights and understand your options thoroughly. While it might appear complex, we’re here to simplify.    In this blog,

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her home equity loan was denied
Home Equity Loan

7 Reasons Why a Home Equity Loan Would Be Denied    

In 2019, an estimated 460,000 mortgage applications for single-family homes were denied under the Home Mortgage Disclosure Act—a rate of 8% of all home purchase mortgages submitted.   It’s normal to worry about the approval of your home equity loan. But

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your loan has been denied
HELOC

Reasons Your HELOC May Get Disapproved  

Mortgage borrowers can access their home equity without selling it by getting a Home Equity Line of Credit (HELOC). However, if your application doesn’t fulfill the requirements, you may find that you are not eligible for this type of loan.

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A woman getting a home equity loan and signing a contract
Mortgage Tips

Difference Between Home Equity Loans and HELOCs

A home is a significant asset for Canadian families, with strong potential for growth if adequately protected. Safeguards for your investment are essential to avoid foreclosure or power of sale. Understanding the difference between Home Equity Loans and HELOCs (Home

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6 Tips for Using HELOC to Pay off Mortgage Faster

In 2020, banks issued deferrals to almost 800,000 Canadian mortgages. Once payments resumed, Canadian homeowners decided they no longer wanted to worry about mortgage payments and looked for ways to eliminate the debt. Loans are common options for paying off

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home equity loans
Mortgage Tips

How to Pay Off Home Equity Loans Faster

According to the Financial Post, rising interest rates aren’t good news for some home equity borrowers. Those with fixed-rate home equity loans won’t feel the difference. But, those with a variable rate home equity line of credit may see their

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which is better home equity loan or heloc
Mortgage Tips

Which Is Better? Home Equity Loan or HELOC?

Canada is a nation of homeowners, with nearly 70% of Canadians owning a home. Homeownership comes with many benefits, but one of the best is building equity.  Equity represents the difference between what you can sell your home for and the

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