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What is a home equity loan?
Home Equity Loans are becoming more and more difficult to obtain, with many banks refusing to allow clients to leverage more than 65% of their homes value with 80% as a maximum. With more and more restrictions being placed on borrowers by the major banks they are making it impossible to borrow money even if you have equity.
If your application for a home equity loan has been turned away by one of the major banks for any reason, we can offer a variety of solutions for almost every circumstance. Fortunately, not every lender has adopted the tight restrictions that the major banks have adopted and still offer home equity loans to clients based on common sense lending practices.
We’ve been making sense of client’s applications for home equity loans for over 30 years. If you have been turned away by the bank for a home equity loan for reasons such as (but not limited to): the amount you are applying for, credit issues or you can’t verify your income, we can help. We have home equity loan options for just about every situation. Whether you are looking to leverage money to buy another property, consolidate high interest credit card debt or even pay off the Canada Revenue Agency we can help you arrange a home equity loan.
We’ve helped a lot of people. See what they have to say!
Marilyn & Bob T
We can’t thank you enough for all your help with our mortgage. We were skeptical about filling out an online application but we had tried several banks and due to our credit, couldn’t find anyone to help us. Getting a call within 15 minutes of submitting our application to go over the application put my mind at ease but my husband and I were both shocked to receive a call the same day with an approval. We are still amazed at everything you did considering how difficult the banks made our situation sound. Again, from the bottom of our hearts thank you so much!
Marilyn & Bob T, Whitby Ontario.
Dave & Sharon S
My wife and I felt completely lost and didn’t know where to go after being declined by our bank of 18 years. We were so relieved once you advised us there are still lenders that value a mortgage based on merits other than just your credit rating. We had never missed a payment on our mortgage for 18 years and to hear our bank say they couldn’t help us even though we owed virtually nothing on our home was heartbreaking. We couldn’t be more grateful that you helped out two complete strangers when nobody else would.
Dave & Sharon S, Ottawa Ontario
I can’t put into words how greatful I am to you regarding coordinating all of the activities in seeing my new mortgage go through. There are several reasons for the appreciation from my side but most importantly it will allow my daughter to continue to grow up in a home and neighborhood that she has identified as being very important to her.
I owned a home for almost 15 years and faithfully renewed at my bank every 5 years. About 14 years into my mortgage my job was terminated and I was forced to rely on credit cards to keep things going. Fortunately I found work after 7 long months but by then my credit had deteriorated and my bank wouldn’t help. I called turnedaway.ca after hearing one of their radio ads and I am glad I did. They bailed me out of a bad financial situation, got rid of all my credit card debt and got me down to one manageable mortgage payment.
John C, Toronto Ontario.