Home Equity Loan in Barrie
Owning a home can be financially beneficial or very expensive, depending how you handle your assets and equity.
Let us show you how to gain the most you can from your property by means of a home equity loan. You worked hard to buy it, now let us show you how it can work hard for you.
What is a home equity loan?
Home equity loans are loans securitized on the residence you own. Whether it’s a home, condo, semi, triplex, commercial unit or even a trailer on leased land, we can assist you in accessing the equity you have built up over the years.
To properly define Home Equity, one must simply understand the following:
As you start to pay off your mortgage, your property will start to gain substantial value, otherwise known as Home Equity. If you pay off large sums of your mortgage and continue to do so over the time period of your mortgage, your home equity will continue to rise.
Choosing what to do with that equity is a decision unique to every Canadian homeowner. Whether you want to build an extension on your home or pay off your bills, here at BSM Mortgage Broker we can get you going right away.
Here at BSM we have a wide range of 2nd Mortgage products, which can help you secure financing without the headaches and questions that come when dealing with the major Canadian banks. Whether you have bad credit, cannot show your income, were previously bankrupt or going through a consumer proposal, don’t worry. BSM has home equity products that can help you right away.
What are the benefits of a home equity loan?
Borrowing against your home’s value, can be very lucrative. It is easier to qualify for this type of loan since the loan itself is secured by the property.
There are many benefits to signing up with BSM for a home equity loan in Barrie. When a homeowner uses their home as collateral it allows the lender to make large funds available, because the loan is secured with the property as collateral.
Rates: Home equity mortgages usually have lower interest rates than unsecured loans. This allows us at BSM to keep the borrowing costs to a minimum.
Taxes: In the right situations borrowers may deduct portions of their home equity loan, especially when making improvements to the property itself. Inquire with a BSM private lender today for more details.
Approval: Don’t let bad credit stop you. As a homeowner a home equity mortgage may be easier than you think to obtain. We understand you own your home, and that can help us manage the risk involved in lending funds based on significant equity.
Always keep in mind if you own any type of property, BSM Mortgage Broker can work with you on using the equity. Perhaps you are in need of money but cannot pay it off at the moment. We understand that type of financial difficulty and how hard it can be to deal with the major Canadian Banks. Call us today and let us show you how easy it is to obtain the money you need to live as you see fit.
What is a Home Equity Line of Credit in Barrie and how to obtain it?
Just like a normal line of credit from the bank, BSM offers Home Equity lines of credit in Barrie or anywhere in Canada for the customer that cannot qualify with the banks. Use and reuse the money you have applied for, without worrying about paying it all back in one year (qualifiable credit). A Home Equity Line of credit Canada can be great if you are in the need of a large sum of money. We will help you access the available equity needed with this service. Rates will range depending on the client.
There are a few things you should know when applying for a HELOC. You can use your funds however you see fit, although most homeowners use their funds for larger expenses such as renovations and remodeling improvements.
The HELOC is the most flexible option available because it allows the homeowner control over their loan. Interest rates are variable, but here at BSM we offer the most competitive rates on the market.
Can I apply for a Home Equity Visa and how does it work?
A Home Equity Visa can help you make those instant large purchases for work around the home and those everyday needs. A Home Equity Visa allows you to access the equity in your account up to a certain limit, giving you the freedom to use it everywhere you go in the form of a credit card. You own your home, you earned that value and built that equity, now it is time to make use of it. Call us today and we would be happy to help show you the benefits.
Travel with the money you have requested all within the power of a credit card. Working like a normal Visa, yet financially secured on the property, our home equity visas give you the power of using the money when you need it most. Whether travelling abroad or in your own backyard, home equity visas are a great alternative to the other products we offer as the money is in your hands.
Always remember, here at BSM, our home equity loans are not given to you based on your credit or what you show on paper. Our home equity loans are based on, you guessed it, equity.
Home Equity Visas can help you make those instant large purchases for work around the home and those everyday needs. You own your home, you earned that value and built that equity, now it is time to make use of it. Call us today and we would be happy to help show you the benefits.
What can BSM do for me in terms of Home Equity Loans, HELOCs and Home Equity Visas?
Home Equity Loans and Home Equity Visa’s from BSM are the best way to gain financial value from your home regardless of your income or credit history. If you own a home we can approve your home equity loan and can get you the funding you need as soon as you need it.