Shant Nalbandian: Home Equity Loan Expert in Toronto  

Being a homeowner in Toronto can make it quite challenging to survive due to countless expenses. If you need to consolidate your finances and further invest in your home, SN Mortgage - a renowned mortgage brokerage firm, is there for you. Getting a home equity loan in Toronto approved at a lowest interest rate is our guarantee. We take every step to maximize the value of your home.

Home Equity Loan in Toronto: How it Works?

What if we told you that you could borrow money secured by your home equity? Interest will be charged, but home equity loans have significantly lower interest rates than other types of loans. Before you get approved for a home equity loan in Toronto or any other major city in Ontario, you must go through an approval process. After your lender approves you, they will deposit the full amount of your loan straight into your bank account.

A HELOC or Home Equity loan is a powerful tool which can provide you with instant access to cash that you can use wisely in times of need. A line of credit, or home equity loan, is a secured form of credit that lets you rotate the credit. As long as the HELOC rules are followed, you may borrow, pay, and then borrow again according to your credit limit. One can use this to finance various purposes, such as home improvements to increase the value of your property, or to consolidate some debts while utilizing low interest rates. Whether you have a short-term or long-term need, our experts will accommodate you. Let us help you leverage home equity loans in your favor. In Toronto, we are qualified mortgage brokers with extensive knowledge of HELOCs. We ensure customer satisfaction by offering the best deal and matching you with one of our 60 qualified lenders.

Call us: (416) 894-3976

Questions? We’re here to help!

When Should You Consider Home Equity Loan?

You may obtain home equity loan for following reasons:

  • Home Improvements, Renovations or Extensions
  • Paying Off Existing Car Loan
  • Pay Off Children's School Fees
  • Investing in Your Business
  • Consolidating Debts

A home equity loan may be the perfect solution for you if your money needs fall into these categories. Simply put, if you need large sums of money, you can use your home's equity to get a loan. Call us right away +1‌ ‌(416)‌ ‌894-3976 or send a message and we’ll get back to you in a couple of minutes.

Benefits of Low HELOC Rates or Home Equity Loan in Toronto

A home equity loan can be a prominent and simple way to obtain funding for a variety of purposes. Instead of refinancing the first mortgage, which is usually accompanied by penalties, you may want to consider a HELOC or home equity loan. Consult with our financial experts to find a home loan product that fits your financial situation. While banks will let you dip into a lengthy and difficult process of home loan approvals, we make it easy and quick for you. Following are some factors that may lead you to consider getting a home equity loan in Toronto:

Debt Consolidation

In case you have multiple debts such as car loan expenses, child’s tuition fees, or credit card debts, you can simply pay them off with home equity loans or HELOCs at lower interest rates. A home equity line of credit (HELOC) or home equity loan lets you borrow money against the equity built up on your home. HELOC comes with low-interest rates. By refinancing your high-interest debts at a lower interest rate, you save money. A good example is: you need to pay a 18% annual percentage rate (APR) credit card, which you can simply pay with a 6% APR home equity loan. With SN Mortgage, we work tirelessly to achieve rates that are lower than conventional markets for Toronto home equity loans.

Home Improvements

Stop considering personal loans or credit cards for home renovations. Homeowners usually consider remodeling their kitchens, bathrooms, basements, or living areas to improve their home outlook and increase their current value. Would it surprise you to learn that you can use a home equity loan or HELOC for major renovations? It is possible to finance a remodel with home equity, especially when the interest rates are lower than those on a conventional loan. Besides offering low-interest rates on HELOC Toronto, it also offers tax deductions and substantial returns on your investment. Our mortgage company makes it easy for you to get approved for home equity line of credit in Toronto rather than you would go for home renovation loans.

Funding for Business

Take advantage of the equity in your home to start a business if you don't have the funds to do so. You don't have to liquidate your business or apply for a business loan if there's a decline in your business and you need money to cover up large expenses. Business loans trap you in a lengthy and strict process despite their high interest rates. HELOCs and home equity loans in Toronto can be used for business purposes since you can easily qualify and they offer relatively low interest rates. Lines of credit offer flexible repayment periods and a large amount up to 90% of the combined loan-to-value ratio of your residence.

SN Mortgage not only offers the lowest interest rates on second mortgages or home equity loans geared towards debt consolidation, home improvements, business funding, or significant expenditures. Call us today and get a FREE consultation on home equity loans or HELOC rates in Toronto.

Call us: (416) 894-3976

Questions? We’re here to help!

Getting Best HELOC Rates Toronto with SN Mortgage

We specialize in finding the right home equity solution for you. Professionals at SN Mortgage help you make the best decisions for your HELOC needs, as well as providing ongoing advice and support for your other financing and mortgage needs. In Toronto, there are many variables that affect the interest rates of home equity loans, such as your payment history, credit score, amount being borrowed, and loan-to-value ratio. Additionally, it includes a variety of features such as setting minimum and maximum limits, converting to fixed rates, and setting up HELOC into smaller portions. The ability to choose an option depends entirely on your luck. However, the team at SN Mortgage will work to accommodate your individual financial needs, such as getting a home equity line of credit, consolidating debts, or getting a self-employed mortgage in Toronto. Saving you money and reducing your monthly payment is our goal. Submit a Mortgage Request Form.

Shant Mortgage Brokerage Involves the Following Services  

Frequently Asked Questions

  • How long does HELOC process take?
    Home equity or HELOCs may take some time from between a week or up to two months based on the financial criteria that you fall in. Often the credit score, the down payment or other debts may affect the application process. We as experienced mortgage broker always find a suitable lender for you to get the deal done with.
  • How long do you have to own a home to get a home equity loan?
    Although the home equity loan can be applied for as soon as you get a home but since the equity takes time building up, the loan you get is against the home equity. All the rest is submitting evidence, which is easy to do when you have the equity.
  • What is the advantage of home equity loan or HELOCs?
    Home equity loans or HELOCs serve as a great way to gain access to emergency cash if need be. It is easier for people with stable income to be able to repay it without having to sabotage anything. You only borrow what you require and paying back for a HELOC on time improves your credit score.
  • What are the disadvantages of a home equity line of credit?
    The disadvantage in the line of sight is that the amount you get as home equity line of credit is subjective to the equity that your house has built over time. So if it is not enough than you might not be able to get a handsome amount. Also the house itself can go underwater if things go south.
  • Is there a penalty for paying off a home equity loan early?
    Not really. Home equity loan does not fall under the category where the prepayment comes off with a penalty. If you can, you may pay off your loan as soon as you wish to.
  • How much is closing cost on a HELOCs?
    You can expect closing costs to range from 2 to 5% of your loan amount. The closing costs are often a bit lower than the costs of mortgage. But it is affected by the lender and the loan product accordingly.

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Shant Nalbandian is here to deliver exceptional mortgage solutions for each and every unique client need. We love nothing more than to help our clients save thousands of dollars on interest. Contact us for the latest in market info, and what it can mean for your mortgage. Simply fill out the request form here, and one of our friendly, knowledgeable agents will get back to you ASAP!

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