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What is a Home Equity Loan? It’s a type of mortgage, plain and simple! Also, these loans often have fewer requirements of the borrowers. That means the borrower can have great credit, or damaged credit, be employed or self-employed (or even unemployed), and so on. You can use the cash for anything you want. That can be for personal projects, education financing, debt consolidation, home repairs & renovations, etc. If you own a home and want some financial flexibility, it’s a loan worth considering. After all, it's your home equity!
Stress-Free Home Equity Loans!
Want help choosing a home equity loan? We match your goals with a loan, not the other way around! Personal service, every time!
- Fixed Rates Usually Far Better than Credit Card Rates
- We Make the Process Really Easy
- All Lender Types (from Big Bank to Private-Individual Lenders)
- Lump-Sum Loans for $10,000 and Up
It's my home and I feel homeowners equity is theirs to use as the person pleases. The bank that I've been with for 16 years put me through a meat grinder with their application and in the end denied me access to my homes equity. Mortgage Mop gave me three options within a couple days and it was an easy choice to make. I also like being able to call somebody and speaking with a person. As a homeowner you can use your home equity for anything you want to."
Lynn, from Aurora
Fast responses, easy to get straight answers. No issues at all. I plan to definitely use them again next year."
Chitram, from Midhurst
Click to Read Casandra's Situation, Solution, and Result.
Casandra’s husband, now on WSIB, needs a wheelchair lift to get up to the second floor. But nobody will lend him money.
Casandra, a housewife, has started working part-time driving for Uber in Guelph. Her husband had an accident at work and they are just starting to move on. But some basic comforts are needed. They have a mortgage (big bank, $120,000, 3.2%) but can’t seem to get a penny more.
Their home in Guelph was appraised at $405,000. The wheelchair lift and its installation will cost the couple about $46,000. They had savings, and used them to swap his pickup truck for a van that accommodates his wheelchair. Casandra uses the van to drive Uber customers around.
We told Casandra what we almost always tell people with first mortgages with big banks—leave it alone and put on a second mortgage. Casandra got a home equity loan (private lender, $55,000, 11.75% fixed interest rate) for a 1.5 year term. They can sleep together again in the same bed.
With our income I never thought we would qualify for a home equity takeout. They proved us wrong and what a relief that they did.