Whether You Need $10,000 or $50,000 – Alpine Credits is the Best Alternative for Home Equity Loans in Vancouver
Why Vancouverites Prefer Home Equity Loans from Alpine Credits
Our Vancouver home equity loans help residents unlock value from their properties without selling. Our fair approval rates and prompt application decisions have made us Vancouver’s top choice for home equity lending for over 50 years.
Many homeowners are unable to meet the bank’s very high standards for approving and providing home equity loans. Banks require a high credit card score, along with stable employment, with the current economy, many homeowners are unable to meet these requirements.
How Our Home Equity Loans Work
In Vancouver, you can borrow up to 80% of your home’s value if it exists as equity.
Here’s an example for illustrative purposes only.
If your home was worth $500,000, and what was left in your mortgage was $100,000, your home equity in total would be $400,000. According to federal regulations, you are allowed to borrow $400,000, since it falls within the 80% limit.
Once we have determined your available equity, you’ll receive an application within 24 hours. One reason we move so quickly compared to other lenders is that we are not concerned about your credit score. What we care about is the available equity in your home and whether it’s enough to meet your needs. On approval, the funds will be deposited directly into your account. Repayments are made in instalments, the same as mortgage payments.
Contact Alpine Credits to Learn About Home Equity Loans in Vancouver
We look forward to helping you get a handle on your finances! Contact us today to begin your application and receive a decision within 24 hours.
Whether you’re looking to consolidate $10,000 or $50,000, our staff is ready to help.
Easy Application – 3 Simple Steps – 24 Hr Approval
Signs a Home Equity Loan is Right for You
These are some of the reasons people come to us for home equity loans in Vancouver.
Are you planning on any major expenses like paying for your child’s school fees or renovating your home? Your best chance of receiving a large sum of money on short notice is through a home equity loan.
Many Vancouverites find themselves with multiple loans with multiple lenders. Consolidating those balances is very easy with a home equity loan, this may help you reduce the interest on the loans and eliminate them faster.
It is difficult to qualify for an investment property mortgage. Lenders usually want proof that you can comfortably make payments both on the investment property and your primary residence without additional rental income. This creates an obstacle for homeowners looking to purchase investment properties in Vancouver. With Alpine Credits, you can simply tap into your primary residence’s equity and use it to purchase an investment property.
Selling your home is a big decision. You also might not get all the money you need since realtors take a healthy cut. If the house doesn’t meet primary residence requirements, you could be slammed with substantial taxes. Home equity loans in Vancouver let you unlock money from your property without incurring these potential consequences.
Traditional lenders are very restrictive when it comes to issuing business loans. With a home equity loan from Alpine Credits, however, you can unlock the necessary funds hassle-free.
Ways to Use Your Home Equity in Vancouver
Your home equity loan can be used to cover any major expense, including:
- Debt payment
- Tuition fees
- Business startup costs
- Home renovations
- Investment property purchases
- Large tax bills
- Health expenses
Learn more about how Alpine Credits customers use our loans here.
Benefits of Our Home Equity Loans in Vancouver
Here are some benefits you’ll enjoy by choosing Alpine Credits as a home equity loan provider in Vancouver.
Home equity loans typically come with lower interest rates than other alternatives, because they are secured. This makes them your best bet at handling major expenses. The smallest percentage point taken off a loan could become a huge saving over time. Compare our rates with those of other lenders here.
It is difficult to qualify for a traditional loan of any amount in Vancouver, let alone one thousands of dollars. With a home equity loan from Alpine Credits, however, approval is quick, easy, and dependent primarily on the amount of equity in your property.
Having multiple debts can be difficult to manage and missing even one payment can badly impact your credit score. With home equity loans, you can manage your debts easily. They are better as compared to home equity lines of credit, they are revolving, which means you can keep increasing balance, even while you make payments. This creates a hard-to-break cycle of debt. With home equity loans, you pay in instalments, since all the money you need is given to you at once. Avoid endless debt!
Instead of making several payments all throughout the month, use a home equity loan from Alpine Credits to streamline your repayments. Make just one low-interest monthly payment.
Frequently Asked Questions About Home Equity Loans in Vancouver
For more than 50 years, Alpine Credits has been helping Vancouverites secure home equity loans with competitive interest rates.
The closing costs on each home equity loan are dependent on the amount of the loan and other factors. Contact us to get a quote and learn about our rates.
Many Vancouverites take out home equity loans, borrowing against their properties. These loans allow you to borrow up to 89% of your home’s value.
While most traditional banks offer home equity loans in Vancouver, they have criteria only the best borrowers are able to meet. Qualifying for a home equity loan from Alpine Credits is much easier. Our primary concern is not your credit score or income but rather the amount of equity available in your home.
Once you have gotten your money at Alpine Credits, your usage is up to you! Unlike traditional lenders, we don’t impose restrictions. It’s your money, after all!
Getting a home equity loan from a bank is a strenuous process that likely won’t work out in your favor unless you have stellar credit. At Alpine Credits, your credit score is not something we worry about. You may qualify for a home equity loan even with a poor credit score.
*Disclosure on “Loan Examples” Above
Alpine Credits’ intent is to always have full disclosure on all of our loan offerings. Borrowers are provided with all necessary disclosure prior to entering into any obligation. Our objective is to offer Canadian home owners an alternative to the banks and credit unions (not a replacement). Typically, you will find our rates to be higher than the banks; however, with this in mind, we are usually more efficient than the banks in getting you your money and may lend in situations where the banks (and other traditional lenders) will not. Once we have provided you with all necessary information, the decision will be left with you as to whether or not you wish to proceed with our offer. Thank you for your consideration. We look forward to speaking with you soon.
All of the above examples are for discussion purposes only. It is important the reader is aware that the examples may represent the lower priced range of our product offerings. Rates on our loans are subject to change and may vary (up or down) based on the equity you have in real estate, the state / condition / location of your real estate, your personal financial situation and the Canadian mortgage market. The examples are all based on interest only monthly payments (you may elect to pick a shorter amortization to pay off your loan sooner) in which the rate in year 2 increases to the prime rate plus 3.75% and the prime rate plus 6.00% for the first and second mortgages respectively. The Cash Advance in all of the loans above represents the net amount of money to be received. The “Gross Amount” for the $100,000 / $300,000 / $25,000 / $50,000 loans in the examples above are $110,500 / $327,900 / $29,500 / $58,140 respectively. The difference between the Gross Amount and Net amount represents closing costs which includes items such as legal fees, appraisals, brokerage fees, etc. (“Fees”). The APR will increase / decrease in the event of higher / lower Fees. Once again, thank you for your consideration.