Whether it’s $10,000 or $500,000 – Alpine Credits is Your Best Alternative to the Bank
Home Renovation Loans – Invest in Your Home
Is your home in need of some repairs or renovations? Would you like to turn your existing house into your dream home? Have you purchased an investment property that needs upgrades before you sell it? Whatever the reason, home renovations are an excellent way to add value to your home and, at Alpine Credits, we strive to help get you the money you need for your home renovations as quickly as possible. Our team of lending specialists can work with you to understand your financial situation and provide you with options for home renovation financing.
Renovating your home can be an exciting life event. Many people avoid renovating their homes because they are worried they won’t qualify for a home improvement loan. Alpine Credits specializes in approving home renovation loans quickly and easily. We know how important it is to have a home you love, and we are excited to help you make your dream a reality.
Some Examples of Home Renovation Projects
- Kitchen Upgrades and Remodeling
- Bathroom Updates
- New Paint and Flooring
- An Addition of a Bedroom or Completion of a Basement
- Upgrades to Existing Plumbing or Electrical
- Replacement of a Roof or Foundation
- A New Deck and/or Landscaping
Qualifying for a Home Equity Loan for Home Renovations
As Canada’s leading home equity lender for more than 50 years, Alpine Credits has helped millions of Canadians acquire a home equity loan for home renovations. Unlike the big banks with their stringent lending criteria, Alpine Credits offers a quick and easy solution. We offer a simple application process and do not consider your age, credit or income history while approving your loan.
If you are considering a home equity loan for home renovations, please give us a call at 1-800-587-2161 or click on ‘Apply Now‘ to know more about our loan options. Remember, at Alpine Credits, homeowners get approved.
We promise to help you every step of the way throughout the lending process. We focus on helping you in a timely and efficient manner.
Home Renovation Financing Options
We understand that financing a home renovation project can be expensive, the good news is that Alpine Credits makes it easy to qualify for a home renovation loan. Each financing option has its pros and cons. Let’s go over some of the best ways to finance your home improvement loan. Before applying for a loan or any financing option, make sure you have set some money aside to help you with unexpected costs. This will keep you from having to renegotiate your loan or constantly applying for new funds.
Savings or Credit Cards
If your purchase requires less capital and you know you can repay it within a few weeks, using your credit card can be a good option. Dipping into your savings could also be a good option if you have a steady income and will be able to save more money quickly.
However, borrowing large amounts on your credit card or from your savings is not the best idea. Consider applying for a home improvement loan instead. If you are borrowing on your credit card, make sure not to carry the balance for too long else you will end up losing valuable money in the long run. Try to use a credit card that offers low interest rates.
A Personal Line of Credit
A line of credit can be a better choice for ongoing projects or long-term projects where you will be working on your home just a little at a time. This is because you will only pay interest on the amount that you withdraw. The interest rates on a line of credit are usually much lower than on credit cards. You can also re-borrow funds if they are below the line of the credit limit. You can do this without reapplying constantly.
Home Equity Loan and Secured Line of Credit
Home equity loans and lines of credit have the same advantages as regular lines of credit and loans. However, they are secured by your home’s equity which means they are subject to legal fees. This option will depend on how much money you want to pay upfront for legal fees and the home equity value.
If you are looking to complete major renovations, mortgage refinancing may be the best option for you. Repayment is usually set up over a long period so you can continue to work and save money as you complete your renovation projects. Mortgage refinancing usually has a better interest rate than a credit card, but it will require you to incur set-up costs.
Financing the Renovation Upon Purchase
If you are buying the home and already planning to complete major renovations, adding the cost to your mortgage can be more cost-effective than applying for a separate loan. It also offers a much lower interest rate than credit cards.
Personal Home Renovation Loan Through Alpine Credits
We never want to pressure you into applying for a loan and that’s why we have outlined all the options you have available. If you have decided that a personal loan is your best option, we are ready to offer you the money you need!
You can fill out our simple application in a few minutes.
Personal loans have much lower interest rates than credit cards and offer a payment plan over 1-5 years. This will ensure that you have enough time to pay back the loan without getting bogged down with high interest charges. Your repayment amount will be duly outlined so there are no surprises about how much you owe and how much is your monthly payment.
Apply for a Home Renovation Loan now!
We’ve been helping people obtain home equity loans for 50 years, now. If you’ve been turned away by the bank for a loan in Canada, we can help find the financing you need.
Easy Application – 3 Simple Steps – 24 Hr Approval
*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.