Loan Services in Toronto, ON
The most popular alternative to credit cards for home owners. With this credit line, access funds when needed. Draws made from the HELOC are repaid by regular monthly payments, just the same as with a credit card but at a considerably lower interest rate.
Low Interest Borrowing
Because the line of credit is secured against the value of your home, a HELOC offers extremely competitive interest rates – usually close to first mortgages rates. Compared to unsecured borrowing sources, like credit cards, far less in interest fees are payable for the same loan amount with a HELOC.
Money When You Need It
A HELOC allows you to borrow against your credit line at a later date without having to apply for a new loan. In that way, it’s a nice emergency source of funds. Interest is paid only on the balance drawn from the credit line (like a credit card).
The purpose of debt consolidation is to use a new loan to pay off several liabilities and consumer debts, usually unsecured ones. This is done by taking multiple debts at high interest rates and combining them into one single loan with a much lower interest rate and having only one minimum monthly payment rather than several others. It is popular for consumers with several different types of debt, to use debt consolidation to reduce interest payments on credit card debt and other types of debt.
Unlock the equity in your home to save on high interest payments. This is done simply by paying off high interest debt with the equity from your home. Consolidating can significantly reduce unnecessary high interest payments which, in turn, saves you money. Our debt consolidation services are also a fantastic way to quickly rebuild your credit score.
Rebuild Your Credit
A debt consolidation loan is a popular tool among consumers to rebuild credit. The motive behind this is that if the principal is paid down faster [than it would have been without the loan] the balance is paid off sooner. The debt is then wiped off your credit report, and your credit score will start to increase significantly. Also, when you have several debts on your credit report it has a negative impact towards your overall score, especially if any of them are closer to their limit.
Using a home equity loan to service debt allows you to save considerably on high interest debt payments. Credit card interest payments on average are 22% and personal loans can be up to 40%. Our debt consolidation services cut these interest payments by more than half.
Pay Off Debt
Debt consolidation loans are most helpful for people who:
– Have multiple debts
– Owe $10,000 or more
– Are receiving frequent calls or letters from collection agencies
– Have accounts with high interest rates or monthly payments
– Are having difficulty in making payments
– Are unable to negotiate lower interest rates on loans
Once in place, a debt consolidation will reduce the interest being paid towards the debts and will lower the borrower’s monthly payments. It will also stop the collection agencies from calling.
There are many reasons why people look to refinance their mortgage such as:
- -Find a new home loan at a better interest rate
- -Their current mortgage has matured, and the lender needs to be paid out
- -To refinance the home by unlocking equity in order to gain access to funds or pay off debt.
Get a Lower Rate
Refinance your mortgage and receive a lower interest rate with lower monthly payments.
Pay Off Debt
Save money by accessing equity in your home to pay off high interest debt with a refinance.
Refinance your mortgage for low interest borrowing in order to pay for important things such as renovations, child education, a new car, etc.
Home Equity Loan
Whether you need some cash in hand, to consolidate debt, renovate your home, or pay for your child’s education, a home equity loan is the most popular form of borrowing to pay for these important expenses. Instead of making high interest payments on credit cards or personal loans a home equity loan is a clever way to borrow at a favourable interest rate.
Need to borrow but your credit is bruised? Not a problem! We have a far-reaching network of lenders that are dedicated to working with clientele with bruised credit. Our friendly experts will also work with you to come up with your very own credit repair success plan.
Need cash to pay for something important? Utilize the advantages of a home equity loan to gain favourable access to low interest borrowing.
Is your home due for an upgrade? We can arrange a home equity loan for you to carry out those much needed renovations.
Overwhelmed by debt? Dodge those high interest credit card payments and improve your credit by taking advantage of more favourable interest rates. Consolidating your debt will positivity impact your credit score which will lead to having better access to lower rates and preferable borrowing products in the future.
A fantastic mortgage product that is growing in popularity but is still highly under-rated. If you are 55+ years old this mortgage option is worth considering. With this mortgage product you do not need to make any monthly payments. Unlock equity in your home to receive capital either as a lump some payment or payments over time when you need it.
Why Get A Reverse Mortgage?
With a reverse mortgage, instead of the homeowner making payments to the lender, the lender makes payments to the homeowner. The homeowner gets to choose how to receive these payments (either as a lump sum payment, scheduled payments, or line of credit) and only pays interest on the proceeds received. The interest is rolled into the loan balance, so the homeowner doesn’t pay anything up front. The homeowner also keeps the title to the home. Over the loan’s life, the homeowner’s debt increases, and home equity decreases.
The home is the collateral for the reverse mortgage so when the homeowner moves or passes away, the proceeds from the home’s sale go to the lender to repay the reverse mortgage’s principal, interest, mortgage insurance and fees. Any sale proceeds beyond what was borrowed go to the homeowner (if he or she is still living) or the homeowner’s estate (if the homeowner has passed away). In some cases, the heirs may choose to pay off the mortgage so they can keep the home.
A reverse mortgage is the only way to access home equity without selling the home for seniors who don’t want the responsibility of making a monthly loan payment or who can’t qualify for a home equity loan or refinance because of limited cash flow or poor credit.
Once you’re 55 or older, a reverse mortgage can be a good way to get cash when your home equity is your biggest asset and you don’t have another way to get enough money to meet your basic living expenses. A reverse mortgage allows you to keep living in your home as long as you keep up with property taxes, maintenance and insurance and don’t need to move into a nursing home or assisted living facility for more than a year.
100% construction financing? No problem! We can secure financing for construction projects up to 100% of the hard costs (no matter what the size and the scope of the project is).
Looking to build that custom home you’ve been envisioning? Our great lenders have a flexible lending criterion with the most favorable rates the market has to offer. 100% financing for all the hard costs can be arranged.
Our wide-reaching network of investors have some of the most viable commercial financing terms and rates in the country. Our investors are also open to joint-venture financing for development projects.
Whether you need to secure a mortgage for your first business or need access to capital for your existing organization, our commercial mortgage solutions are worth considering.
Commercial Mortgage Solutions
Our commercial experts have over a decade of experience in the industry. Our experts give you access to our well-established network of institutional and private lenders who have a flexible lending criterion with favorable terms and rates.
We have an abundance of long-standing partnerships with the most competitive and reputable institutional and private lenders for purchases in Ontario.
Don’t lose your deposit or pay hefty penalties for extending the closing date on your purchase. With FinanceHub’s speedy mortgage process we can have the funds secured for your purchase in 48 hours.
If a buyer has a lag between the purchase of one property and the sale of another property, they may turn to a bridge loan. Bridge loans roll the mortgages of two houses together, giving the buyer flexibility as they wait for their old house to sell. Our partnerships with the GTA’s most exclusive network of niche lenders allow us to secure these types of loans in a timely fashion at favorable interest rates.
First Time Home Buyer
New to real estate? Making informative decisions is important when making a property purchase. That’s why our team is here to guide you to make those informative decisions. We provide you with the support and expertise for you to make the right financial choices for securing your purchase.
We have a wide-reaching network of private lenders who cater to borrowers with bad credit. We have serviced many customers with bad credit and assisted them to secure their home purchase. Our friendly experts also offer expert guidance to rebuild credit. We don’t just stop at your approval; we work with you to come with a personalised success plan to rebuild your credit.
Whether you need funds for quick closings, renovations, your child’s tuition, or cash in hand our wide-reaching network of private lenders is at your disposal. FinanceHub gives you the opportunity to access the greatest network of private lenders in the GTA to ensure your financing needs are at favourable rates.
First Mortgages from the GTA’s most preferred and exclusive private lenders. Click here for the most favorable rates.