1st, 2nd, & 3rd Mortgages for Homeowners.
Home Equity Loans.
Ontario, British Columbia & Nova Scotia.
What is a Home Equity Loan?
Unlock your home equity.
A home equity loan is an efficient method of accessing funds for a variety of reasons including home renovations, debt consolidation, and business operating capital. Home equity is the difference of the fair market value of your home and the balance of any outstanding mortgages. For instance, if the value of your home is $500,000 and you have an existing first mortgage $250,000, you have $250,000 of home equity. Mortgage lenders will implement policies surrounding the loan-to-value (LTV) that they are able and willing to provide. For instance, banks might limit their LTV to 65% or 80% of the value of a property. Whereas a private mortgage lender might finance up to 90%, or even above 100% of the value of the property provided additional real estate collateral. Ultimately, home equity can be very advantageous when seeking a home equity loan.
How does a Home Equity Loan work?
access your home equity.
A home equity loan is a loan secured against your home that will allow you to access your home equity for any purpose. DV Capital can provide home equity loans in first, second, and third position. Over the years we have perfected the most efficient and transparent approach for providing homeowners and real estate investors with home equity loans. If you have an existing first mortgage, we will help you determine if it makes sense to replace your existing first mortgage or obtain a home equity loan in second position. Similarly, if you have an existing first and second mortgage we will help you understand if a third mortgage makes sense. Ultimately it comes down to the cost of breaking an existing mortgage, your circumstances, and the cost of obtaining a new home equity loan. We have been providing structuring and providing home equity loans for over a decade and work with a variety of mortgage lenders that provide flexible low-rate home equity loans in Ontario, British Columbia and Nova Scotia.
Home Equity Line of Credit.
Borrow on your watch.
A home equity line of credit (HELOC) is different from a home equity loan in the sense that a HELOC works like a regular line of credit. This means that you can borrower how much, and whenever you’d like, up to your credit limit. You are able to pay it back and borrow from the line of credit again whenever you’d like. This greatly differs from a traditional home equity loan whereby there are typically scheduled monthly payments. A home equity line of credit works especially well for renovation and construction projects. Having the ability to draw yourself specific amounts at specific times can help reduce cost and increase your profit.
Home Equity Loan Facts.
Low Home Equity Loan Rates.
- Easily access your home equity even when banks say NO.
- Borrow anywhere from $20,000 – $5,000,000 and more.
- Borrow up to and above 85% of your property value.
- No mortgage stress test.
- Receive funds in as little as 48 hours.
- No ‘maximum door policy’ for real estate investors.
- Flexible and or zero debt service ratio requirements.
- Flexible and or no minimum credit score requirement.
- Custom term lengths with flexible prepayment penalties.
Reasons for a Home equity loan.
Use your equity how you'd like.
- Home renovations.
- Consolidate high interest debt.
- Improve your credit score.
- Spousal buyout to retain ownership of your home.
- Emergency funds for unexpected expenses.
- Funds for a deposit or down payment for another purchase.
- Bring your mortgage arrears up to date.
- Funds for income tax preparation, filing, and balance owing.
- Use your hard earned equity, when, and how you need it.
Home Equity Loan Lenders.
Direct Mortgage Lender.
At DV Capital we have home equity loan solutions for property located in most urban and rural locations in Ontario, British Columbia & Nova Scotia. Furthermore, our flexible income and credit requirements enable financing for mostly all income and credit profiles. In addition, you will not have to go through a mortgage stress test. We create custom home equity loan mortgage approvals with low rates and flexible terms to help you move ahead. Use your home equity, when, and however you need to.
Home Equity loan Approvals.
Easy Mortgage approvals.
Home equity loan approvals are generally focused on the strength of the underlying asset. This means that your mortgage lender will assess the location, condition, and marketability of your home. In addition, the existing mortgage balances, amount that you wish to borrow, the purpose, and the loan-to-value. As you can see, DV Capital makes it much easier than traditional lenders and how they heavily scrutinize your income, employment and credit to ensure that you pass the mortgage stress test. Regardless of being turned down elsewhere, DV Capital will approve you for a home equity loan based on sufficient home equity, call us today.