The many types of mortgages in Canada
A mortgage is used to buy a home in Canada, but it’ll be up to the homebuyer to decide what the flexibility and type of interest rate they want with the mortgage.
Alpine Blog
Tools and tips from our team of experts to help you make the best decisions for your financial future.
Category: Home equity loan
Consolidating debt: A bankruptcy alternative
When you’re dealing with a lot of debt, you have a handful of options, like home equity debt consolidation loans, to become financially free. Many people think about filing for bankruptcy, but it has to be completely understood before you decide it is your solution to relieving your debt.
Good credit scores with debt consolidation
For some, their financial goal is to improve their credit score, which can be done through a few ways including partnering with banks and alternative lenders. One distinctive method that has helped many reach their credit score goals is debt consolidation.
Consolidate your debt through a home equity loan
Anyone can achieve financial freedom with the right tools. With all these options on how to consolidate your debt, you want to choose what is best for you. Personal loans, debt management, debt settlement, and home equity loans are the most common methods, but it’s important to understand each one before making your first step.
An introduction to debt consolidation loans
Outstanding balances that are owed to credit cards, mortgages, and auto loans are the source of financial stress for Canadians. A common solution to make monthly payments more manageable is with debt consolidation through home equity. Understanding what the effects are and what this means for you as a homeowner is an important step.
Get home renovation loans with bad credit
Renovating your home is an exciting endeavour. Seeing your home get a full makeover has many benefits, but it’s important that you consider how you can cover the cost of home renovations, even more so if you’re faced with having bad credit. In those situations, you can reach out to Alpine Credits for a home renovation loan through your home equity.
Do banks give loans to someone with poor credit?
Banks offer various types of loans, all of them with different amount limits and purposes. Getting a loan from the bank would be ideal, but it’s not always accessible to those who poor credit scores. Alternative lenders, on the other hand, have bad credit loan options available. For one, home equity loans are for any homeowner regardless of financial status.
What is debt consolidation & how does it work?
Have you been juggling debt payments and feel like there’s no end in sight? If this sounds like you, you may be wondering: What is debt consolidation, and how does debt consolidation work? Consolidating your debt might be just what you need to get your finances back on track and make your payments more manageable.
How to take equity out of your home?
There are various methods on how you can pull equity out of your home without having to sell it or withdraw a costly personal loan. These options can allow you to access much needed funds for personal, business, or investment reasons, and let you do so by leveraging the highly competitive real estate market.
Home equity 101: What is it & how does it work
In this article, we’ll make it easier to answer questions like “what is home equity?” and “how does home equity work?” By the end, you should have a better understanding of what home equity is referring to and how you can leverage it towards getting the funding you need.
Cash out refinance in Canada: All you need to know
When refinancing your mortgage, you can choose to increase the size of the mortgage loan that you’ve taken out with your lender. Doing so increases the amount of money you owe the lender, but the difference in amount between your previous mortgage amount and the new one can be withdrawn as cash. This is known as a cash out refinance in Canada.
Are interest rates going up in Canada?
At the beginning of March 2022, the Bank of Canada announced its first interest rate increase since the start of the COVID-19 pandemic. This means that interest rates in Canada as a whole are likely starting to shift up as the economy begins to recover and the country learns to deal with the pandemic.
Home equity line of credit: New rules in Canada
New mortgage rules have been put into place that make it more difficult for Canadians to access their home equity through traditional avenues. These rules also come with higher interest rates, and together, qualifying for home equity line of credit options is harder than ever before.
How to avoid a mortgage penalty in Canada
Breaking your mortgage comes with expensive penalty fees. For any number of reasons, homeowners within a mortgage term might find a need to break their mortgage. Others might have extra income to prepay their mortgage term. However, you may be shocked to learn about the steep penalty fees associated with prepaying or breaking a mortgage.
Consolidating debt into a mortgage
If you have high-interest debt, are you wondering “Can I consolidate debt into a mortgage?” Any kind of debt can be hard to pay down and get permanently dissolved if the interest charges keep accruing. Many people may feel at a loss on what to do to start making a dent in their high-interest debt.
Can you get a home equity loan with bad credit
Learn how you can get a home equity loan with bad credit or refinance your existing debt at a lower interest rate.
12 tips for buying an investment property in Canada
Buying an investment property can be incredibly rewarding. It can also be a huge headache if you don’t go about it the right way. Keep reading for some tips on how to buy a rental property the right way.
Using your RRSP for a down payment on an investment property
While using your RRSP to buy an investment property might seem like a great idea, there are many things to consider before cashing out. Keep reading to learn more about why this may not be such a smart move and how Alpine Credits can help you secure better financing.
How much do heated floors cost in Canada?
Heated flooring makes for a luxurious addition to any Canadian home, offering a warmth that radiates much more evenly than forced air from an HVAC system. Keep reading to learn about heated floor costs and how Alpine Credits can help you cover them.
RRSP withdrawal rules after retirement
RRSP withdrawal rules after retirement can be tricky to navigate, especially since they’re constantly changing. In this post, we’ll give you an overview of RRSP rules after retirement, show you how to find quality advice, and discuss alternative sources of cash in case you’d like to let your nest egg grow for a while longer.