BC Loans | Apply online with fast approval with Alpine Credits
Whether you need $10,000 or $50,000 – Alpine Credits is the best option for loans in BC
If you’re looking for BC loans with a fast approval process, Alpine Credits is for you. Rather than considering your credit score or income, Alpine Credits uses the equity you have in your home and determines how much you can borrow. If you have paid off at least 25% of your property’s value, you can get approved.
Why thousands of British Columbians choose Alpine Credits
You can use the money from a home equity loan in multiple ways, including consolidation, tuition or emergency funds. When getting a loan from Alpine Credits, most people use it for three major reasons.
- Loan consolidation—instead of paying multiple loans or credit cards, a home equity loan can satisfy the outstanding balances, streamlining the transactions in your bank account with just one loan to repay.
- Home renovations—more extensive projects become more attainable with a home equity loan. You can use the money to buy supplies or hire contractors.
- Business investment—get financing to start a new venture or take up a business opportunity. Whether starting a new company or purchasing assets, home equity loans are among the best options.
Common types of BC Loans
Loans that are secured against your home equity can be used for several purposes. Since they are secured against your home, interest rates on these loans are lower than other types of loans. Other types of loans in BC are personal loans and consolidation loans.
- Personal loans: this is a lump sum of money that you can repay weekly or monthly with a fixed or variable rate of interest. Most personal loans are unsecured, which means you don’t have to provide collateral.
- Consolidation loans: this type of loan allows you to combine your debt into a single lump sum, allowing you to save money on interest, track monthly payments easily and pay off debts faster.
- Home equity loans: if you want you can take out a lump sum amount and pay a lower interest rate, a home equity loan is for you. It is a loan secured by your home. With the interest fixed, you will know precisely how much you will pay monthly, and you may arrange your repayment accordingly.
Understanding home equity for BC loans
Before we go into home equity loans, it’s important to learn what home equity is. In simple terms, home equity is the difference between your home’s current market value and any outstanding balance on the mortgage secured against the home.
For example, if your home is worth $1,000,000 and you have an outstanding mortgage balance of $500,000, without owing any other loans, your home equity is at $500,000.
With continued mortgage payments and increasing property values in British Columbia, your equity will be more substantial. Higher equity means higher funding potential for your loan application.
Benefits of BC loans
BC loans as home equity loans have several advantages depending on the lender.
- Comparatively lower interest rates—instead of putting your expenses on your credit card, you can use a home equity loan.
- Large loan amount—with the loan based on your equity, the funds you receive can be significantly larger than other loans.
- No credit score consideration—your credit score, income, or financial status do not play a significant role and will not affect your application.
- Quicker application results—an application at the bank can take a few weeks to months to process, but you can find instant approval with Alpine Credits, taking as little as a few days.
- Flexibility—most loans have a limit or a specified purpose. Home equity loans do not have the same restrictions, and you can use the money for multiple purposes.
Why Alpine Credits?
You can find personal loans from traditional financial institutions, but they can have stringent requirements such as a high credit score or income. As an alternative lender, Alpine Credits understands that loan applications and approval from these lenders can be challenging.
Banks and credit unions use an applicant’s credit score, monthly income, and age to decide if a loan should be given out. Alpine Credits only considers how much home equity you have.
Based in British Columbia, Alpine Credits has offered home equity loans since 1969. With Alpine Credits’ help, you can accomplish your financial goals.
How to apply online for loans in BC at Alpine Credits
- Contact a Financial Solutions Specialist—if you’re unsure where to start, contact one of the home equity loan experts at Alpine Credits. They can answer all your questions or guide you through the application.
- Fill out the online application form—the process takes a few minutes and will ask for your personal information, how much you need, and household information. Through Alpine Credits’ online services, you can finish the application process from the comfort of your home.
- Wait for application results—the application is a simple process that takes as little as a day and as long as one week.
After getting your approval, you’ll see the money in your bank account within a few days to a week.
Finding success on a BC loan
Meet Alex, he bought a beautiful home eight years ago with some savings from his job as a software engineer at a tech company. It’s a charming home nestled in front of the idyllic waters at Deep Cove, North Vancouver.
Just one thing missing. He wanted to build a rustic balcony to host parties and get-togethers and enjoy the view of the ocean.
To completely finish his dream home, he needed some money to build this balcony. However, his savings were not enough to cover these costs, so he asked his lender for help. But due to a few problems with his credit rating, he was unable to receive the required amount.
Fortunately, Alex’s colleague introduced him to Alpine Credits and told him about how they assist many homeowners in a similar situation.
A Financial Solutions Specialist at Alpine Credits gave Alex the financial guidance and help he needed. During the application process, they found out that his home was valued at about a million dollars, and the home equity was worth $500,000, allowing her to borrow up to $375,000 for his use. Not only did Alex obtain a loan to cover the cost of the new balcony, but he also improved his credit score by consolidating his existing loans.
While everyone’s situation is unique, you can have the same level of assistance from Alpine Credits. If you want to know how much you can access from your home, our Financial Solution Specialist can support you too.
See how Alpine Credits compares
Other options like credit cards, lines of credit, or even payday installment loans, can come with high interest rates and hidden fees. With credit cards, using them to consolidate debt or pay for a renovation can result in a large portion of your monthly payments going towards only the interest. Also, using more than 30% of your credit limit is unhealthy.
You can contact a Financial Solutions Specialist today and apply for a BC loan. Alpine Credits is the best alternative to the bank when you need a loan. The requirements are not as demanding and offer comparatively better interest rates.
Frequently asked questions
You can secure a second mortgage despite having a less-than-ideal credit score. Alternative lenders like Alpine Credits cater to borrowers facing challenges with their credit score or income history. They provide customized home equity solutions without overanalyzing your credit score and mainly look at the equity available within your home.
Second mortgages are flexible in their use. The funds gained can fund home renovations, loan consolidation, or other business ventures. There are no restrictions on how the funds should be used; homeowners can use them as they see fit. This is also what makes second mortgages an attractive financing option.
If you’re a homeowner with over 25% equity already built in your home, applying for a second mortgage can be a great idea. Doing so can help you achieve a wide variety of financial goals.