Borrowers who may not fit the rigid restrictions of traditional lending institutions may find that a home equity loan is the best way to secure financing for purchasing additional property, refinancing, or consolidation of debts. Chances are the value of your home has increased since you bought it. A home equity loan can get you […]
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A second mortgage is a home equity loan that allows homeowners to borrow money from the equity in their home, without refinancing their current mortgage. It’s simply another mortgage on your home – a loan secured against the property. The term “second” indicates that the loan does not have priority on your home in case you default. […]
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Are you thinking about a mortgage refinance? Doing an early mortgage refinance has become a bit of a trend; not surprisingly though, everyone is looking to save money where they can. Obtaining a new loan with better interest rates for your home could mean saving money on monthly mortgage payments or using the extra money on other […]
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Many self-employed people, presently or in the past, have accumulated tax arrears at some point. The CRA has strong powers to make sure they collect what people owe. They charge penalties and interest on all tax arrears. They can withhold child tax credits and GST credits until the arrears are paid. They can take money […]
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When the time has come to refinance or sell your home, you want to make sure the value of your home is appraised accurately. After all, you have maintained it well and want to get maximum value for your property. Appraisal affects pricing. Knowing what appraisers look for will help you understand the process; you […]
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‘Debt consolidation’ is the process of combining two or more debts into one. It should result in a single debt payment and lower total interest costs. We have a network of Private Mortgage Lenders who will help you refinance the property and liquidate equity when you are in need. Why borrow against home equity Home […]
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A reverse mortgage is a special loan for homeowners 55 +, that lets them borrow against the value of their home, without having to sell their home. The lender will pay the proceeds of the reverse mortgage to the homeowner as a lump sum or as periodic payments and are not considered taxable income. Interest will accrue at […]
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We arrange equity mortgages for clients with all types of credit profiles- from excellent to poor. For us, Equity is King. Alberta Home Lending has success where many big banks fail. Purchases, refinances, renewals – Even properties in foreclosure. If you have been declined by the bank, give us a call right away or apply online. We […]
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What is foreclosure? -It is a legal process for a mortgagee (lender) to sell, or take ownership of, a property when the owner defaults on the mortgage. In other words, the homeowner entered into a contractual agreement in order to buy the property but has not been able to meet the promises made under the […]
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Why is it for first-time homebuyers only? For many Canadians, especially young people and first-time buyers, finding an affordable place to call home is not just a challenge – it feels like an impossibility. There aren’t enough houses for people to buy, or apartments for people to rent. That makes finding a good place to […]
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