Home Equity
Home Equity
What is a Home Equity Loan?
Home equity loans refer to money you can borrow against the equity in your home, which is the difference between your home’s market value and any mortgages.
For instance, if your home is worth $300,000, and you owe $150,000 on your mortgage, you have approximately $150,000 in home equity. The equity in your home will increase when you pay down your mortgage and when the value of your home increases.
For instance, if your home is worth $300,000, and you owe $150,000 on your mortgage, you have approximately $150,000 in home equity. The equity in your home will increase when you pay down your mortgage and when the value of your home increases.
How Does Home Equity Loan Work?
If you have an existing mortgage that you plan to continue paying, it is not typically considered as part of the debts that will be eliminated through a personal bankruptcy or a consumer proposal.
This means that declaring bankruptcy or making a consumer proposal should not impact the mortgage renewal process if it comes due during or after the bankruptcy or proposal, provided that the mortgage payments are up to date.
A consumer proposal or bankruptcy, however, can be used to address unpaid balances from secured debts where the securing asset has been surrendered or seized, such as in the case of a mortgage foreclosure or vehicle lease shortfall.
This means that declaring bankruptcy or making a consumer proposal should not impact the mortgage renewal process if it comes due during or after the bankruptcy or proposal, provided that the mortgage payments are up to date.
A consumer proposal or bankruptcy, however, can be used to address unpaid balances from secured debts where the securing asset has been surrendered or seized, such as in the case of a mortgage foreclosure or vehicle lease shortfall.
Home Equity Loans Approved!
- Personalized discovery call to assess your financial needs
- Approval based on your home’s equity, not just your credit score
- Professional assistance from the moment you apply
- Access funds to boost your monthly cash flow
- Fast approval process, often within 24 business hours
Home Equity Loan Canada - Approved in 24 Hours
When unexpected expenses arise or a new opportunity comes your way, having quick access to money is crucial. Whether you’ve lost your job, faced a large emergency expense, or are eyeing debt consolidation options, we are here to help.
If you find yourself without enough readily available funds, you’re not alone. A home equity loan allows you to tap into the value of your home to secure the cash you need, exactly when you need it. Our online process is simple and straightforward, and you can receive your approval in as little as 24 hours.
If you find yourself without enough readily available funds, you’re not alone. A home equity loan allows you to tap into the value of your home to secure the cash you need, exactly when you need it. Our online process is simple and straightforward, and you can receive your approval in as little as 24 hours.
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Free Consultation
Our Investment Managers are here to assist you with any questions you may have about mortgage investing with CMI. Whether there’s a specific investment opportunity you’re interested in or you just want to learn more, we’re here to help.
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(204)404-1313