Home Equity Loans

We Have Extensive Experience In Home Equity Loans

The Possibilities Are Endless

Your home equity can help you get access to attractive interest rates, when you receive a home equity loan or a home equity line of credit. These loans are secured against your home equity value and are thus called home equity loans. You may take out a home equity loan which will be a lump sum payment of funds that you receive all at once. You may also choose to take out a home equity line of credit, which gives you access to a certain amount that you can spend based on your needs and only pay a minimum monthly payment – not unlike a credit card, but better!

Home Equity With NorthView

Offer attractive interest rates that could be much lower than interest rates of unsecured loans

Come with negotiable repayment terms to suit your requirements and financial needs

Provide a fixed, clear and predictable payoff schedule

Are a useful tool for debt consolidation

What Can Home Equity Loans Be Used For?

Home improvements: Home equity loans are commonly used to finance home improvement projects, such as renovating a kitchen, adding a room, or making other upgrades to the home.

Debt consolidation: Homeowners may use a home equity loan to consolidate high-interest debts, such as credit card debt or personal loans, into a lower-interest loan, which can potentially lower their overall monthly payments.

Education expenses: Home equity loans can be used to pay for education expenses, such as tuition fees, books, or other educational costs.

Investments: Some homeowners may use a home equity loan to invest in other opportunities, such as starting a small business, investing in stocks or other investments, or real estate investments.

Room additions: Adding a new room or extending an existing one can create more living space in your home, whether it’s for a bedroom, home office, or entertainment room.

Exterior renovations: Exterior renovations like new siding, roofing, or landscaping can enhance your home’s curb appeal and value as it’s the first thing people see when they visit.

Energy-efficient upgrades: Energy-efficient upgrades like new windows, doors, and insulation can cut down your energy bills and make your home more comfortable and eco-friendly.

Kitchen Renovation: A kitchen renovation can improve the aesthetic and functionality of your living space. Upgrading appliances, replacing countertops and cabinets, and adding new lighting can transform your kitchen into a modern and inviting space that’s considered the heart of your home.

How To Get Started

Case Study

Home Value: $875,000

Mortgage Remaining: $580,000

Home Equity: $295,000

Required Loan: $120,000

Problem

A family of two has accumulated credit card debt of $50,000 with a 28.99% annual interest on each card. The debt is expensive and the couple is having trouble meeting all their financial obligations after paying their home mortgage.

Solution

Owning a home with home equity currently at $150,000 allows the family to take out a 1-year home equity loan of $50,000 with a fixed interest rate of 9.9% and affordable monthly payments. This allows them to pay off all high-interest debt in lump sum and continue making just one monthly payment on their home equity loan for the following 12 months.

All Our Other Services

We are committed to finding you the right loan solution. If you do not see something that fits your needs, please do not hesitate to reach out for assistance.

Get you access to attractive interest rates, when you receive a home equity loan or a home equity line of credit.

Refinancing Mortgage

Home refinancing can help you maximize the of your home equity.

Construction Loans

Your home equity could easily give you access to additional funds through a second mortgage.

Debt Consolidation

Get you access to attractive interest rates, when you receive a home equity loan or a home equity line of credit.

Home Mortgages

Home refinancing can help you maximize the of your home equity.

Credit Repair

Your home equity could easily give you access to additional funds through a second mortgage.

Bad Credit Loans

Get you access to attractive interest rates, when you receive a home equity loan or a home equity line of credit.

Private Mortgage

Home refinancing can help you maximize the of your home equity.

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We have an extensive experience financing construction projects both for residential and commercial use. Construction loans we may be used for:

Building custom homes
Land development
Infill projects
Home Renovations

To get flexibility and attractive terms with a construction loan, call us at North View Mortgages.

The approval is fast and simple;
You have 3 months to begin construction after the loan settlement date and 12 more months to finish the project;
You only pay interest during the construction stage, with interest recalculated according to the remaining balance owed;
You can plan for the usage of the funds with a progressive draw type of loan.

Construction Loan

Home Equity Loans

Debt Consolidation

Home Mortgage

Refinancing Mortgage

Credit Repair

Bad Credit Loans

Private Mortgage

Second Mortgage

Home Renovation

Remodelling your kitchen. Upgrading your bathrooms. Finishing the basement. All these projects can dramatically increase the value of your home and have a big impact on your quality of life. Why wait? A home renovation loan puts your renovation goals within reach.

With extensive expertise in real estate and property appraisal, North View Mortgages can offer home renovation loans and advise on projects that would increase your home’s value the most. These may include:

kitchen renovations
bathroom makeovers
basement renovations and building
windows and doors installations
deck or patio additions
landscaping

With Us, the application process is painless and the approval is the fast. Only a simple set of documents is required. Interest rates start at 5.99% and loans from $10,000 to $300,000 are available. Call now or fill out the form for a fast, no-obligations assessment! North View Mortgages will be happy to guide you through all the paperwork and answer all your questions.

Case Study

Home value: $650,000
Mortgage: $480,000
Need: $60,000

Problem

To increase the value of her condo prior to putting it up for sale, the client wants to renovate the bathrooms, change flooring, change kitchen cabinets and install new kitchen appliances. She needs to get it done within three months to be able to take advantage of the peak real estate season in Toronto. The funds required are approximately $60,000.

Solution

We conducts a free consultation with the client and her real estate agent to ensure that the renovation plan corresponds to the real estate demands in the area. The client is then offered a 6-month home renovation loan of $65,000 – a little over the required sum to account for any unexpected additional costs. The loan carries an interest rate of 9.9%, with no monthly payment required in the first month, enabling the client to complete the works quickly and sell.