Quick, flexible home equity loans in Calgary

Alpine Credits is the leading provider of home equity loans in Calgary, offering flexible and reliable financing solutions to meet the diverse needs of homeowners.

Substantial loan amount

Easy to manage

Competitive interest rates

Consolidate debt

How to get a home equity loan in Calgary

Complete an online application

Fill out the form with the right information: no obligation or impact on your credit score.

Speak with a Financial Solutions Specialist

A specialist will contact you to provide support, answer your questions and provide more information.

Get approved and receive funds

With at least 25% equity ownership in your home, you can get approved and receive funds within a few days.

What is a home equity loan in Calgary?

In Calgary, a home equity loan allows homeowners to leverage the value built up in their property to secure funds, offering a practical solution for those who need cash without the need to sell their home. This type of loan is especially helpful for covering large expenses, consolidating debt, or financing projects like home renovations.

For over 50 years, Alpine Credits has been dedicated to helping homeowners access home equity financing. We understand their unique and take pride in offering personalized, straightforward solutions that make it easy for our clients to achieve their financial goals. Homeowners in Calgary trust us to provide the financial support they need.

Use cases for home equity loans in Calgary

Consolidate debt

Use a home equity loan to combine multiple high-interest debts (like credit cards or personal loans) into one lower-interest loan, simplifying payments and reducing overall interest costs.

Fund home renovations

Tap into your home’s equity to finance home improvements or renovations, which can increase the value of your property over time.

Lower monthly payments

By consolidating debt or accessing a larger loan at a lower interest rate, you can reduce your monthly payment burden and improve cash flow.

Benefits of home equity loans in Calgary

Here are some of the perks home equity borrowers enjoy in Calgary.

Lower cost of borrowing

Typically, home equity loans come with lower interest rates because lenders will have less risk, meaning they can resort to the collateral in case of payment default. A difference of even a partial percentage can result in tremendous savings, especially for loans amounting to tens or hundreds of thousands of dollars.

Easy payment system

Many Calgarians need help with high debt and low cash flow. Home equity loans are structured so that it is easy to manage the debt.

Loans from home equity are made up in tranches, so you get all the money necessary to cover your primary expenses early and avoid falling into debt cycles.
Since you’re borrowing a lump sum with a fixed interest rate, your payments will be predictable and will not change over the loan term.

Borrow money for virtually any purpose

With a home equity loan, you can use the cash for virtually any purpose, paying for major purchases, tuition, medical expenses, and even vacation. However, using the funds to make home improvements or to consolidate multiple high-interest debts into a single payment with a lower interest rate is more beneficial.

Deductible interest payments

If you use your home equity loan for investment, the interest you pay can be claimed as a tax deduction.

Why choose Alpine Credits

Simple qualifying criteria

Alpine Credits focuses primarily on home equity value, and less on credit score or income status.

Quick approval and funding

Alpine Credits reviews your application significantly faster than traditional banks and lenders. Get your funds in a few days.

Personalized support

Alpine Credits has a team of Financial Solutions Specialists to help you and answer any of your questions.

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How home equity loans work in Calgary?

Home equity loans are also known as second mortgages in Canada. With a home equity loan, borrowers receive lump-sum payments that they’ll repay over a set period.

Since home equity loans are secured against your home, traditional financial institutions and private lenders often offer lower interest rates than conventional mortgages.

Home equity loans and home equity lines of credit (HELOCs) use equity in your home but differ in their applications. A HELOC works like a credit card, so you can borrow money and pay it back multiple times if it is within your credit limit and draw period (usually ten years).

Before you apply for a home equity loan or line of credit, it’s important to understand what home equity is. Home equity is the difference between the current value of your home and the total outstanding balance you have on your existing mortgage.

If your home was worth $500,000 and had $100,000 outstanding on the mortgage payments, your total home equity would be $400,000. You could borrow 75% of your home equity, which is $300,000, to obtain a significant amount for any purpose, big or small.

At Alpine Credits, the primary focus is not your credit score but the available home equity. Once you’ve been approved, we’ll deposit funds directly into your bank account. You’ll make repayments in installments that include interest.

Why consider a home equity loan in Calgary

These are some of the reasons why Calgarians consider taking a home equity loan:

To cover a significant expense: Calgarians who don’t want to dig into their savings or need to cover substantial costs such as home repairs or medical bills can opt for a home equity loan.
To consolidate debt: If you want to simplify your payment process, consolidating your multiple debts into a single loan is a great way to avail yourself of lower interest rates and reduce the effective interest rates on your debt.
To put up capital for a business: Most entrepreneurs need capital to finance a startup or to cover labour costs. With a home equity loan, you can use it to fund any of your business needs.
To invest: Whether you want to enter the real estate market and buy your first rental property or take advantage of compound growth in investing, using a second mortgage on your property can provide you access to a large number of funds.
To plan for retirement: Retirement should be a time to enjoy the fruits of your labour and live life to the fullest. With this type of loan, you can plan for your retirement fund and be protected at the same time against sudden expenses.

How Calgarians use home equity loans

You can use a home equity loan to cover just about any major expense, including:

Debt Consolidation

According to a report by Equifax, residents of Calgary held the most consumer debt among major cities in Canada, so more and more Albertans prefer consolidating their loans to simplify the repayment process and avail of lower interest rates.

Tuition Fees

Funds from a home equity loan are not restricted, which means you can fund your own or your children’s education using the equity in the asset you already own- your home.

Business Investments

With the city’s growth in terms of GDP and population, Calgarians are well-positioned to take advantage of a booming economy. This means access to capital funding will be crucial for any business startups or expansions.

Home Renovation

Many Calgarians use home equity loans for home renovations like a kitchen or bathroom makeover that will increase the value of their homes and their quality of life.

Health Expenses

Instead of collecting high-interest charges on your credit card, a home equity loan can cover medication or unexpected hospital bills.
A home equity loan allows you to turn your home’s locked value into capital, which can help you achieve your financial goals.

This is another way in which Alpine Credits differs from traditional lenders. We don’t limit what you can do with your money.

Unlock your equity in Calgary through Alpine Credits

Many residents of Calgary are looking for different options since traditional lenders have high credit standards that make it difficult to obtain mortgages. This is where alternative lenders come in.

Alpine Credits uses different criteria to determine an applicant’s eligibility. Instead of credit history or income, the main determining factor of approval is sufficient home equity. Homeowners can be eligible for a home equity loan if they have paid at least 25% of the property value.

Find loan options in your area

Click on the links below to get started, and see the mortgage options available to you, in the provinces we serve across Canada!

All of Canada

Consolidation loans in Calgary

Business capital in Calgary

Personal loans in Calgary

Home equity loans in Calgary

Investment loans in Calgary

Third mortgages in Calgary

Mortgage refinancing in Calgary

Frequently asked questions on home equity loans in Calgary

Find answers to frequently asked questions about Alpine Credits, home equity loans in Calgary, second mortgages and more.

Where is the best place to get a home equity loan in Calgary?

Alpine Credits has been helping Calgarians tap into their home equity for over 50 years. With Alpine Credits’ simple application process and competitive rates, Calgarians can avail themselves of the financial freedom and security they need.

How much money can I borrow with a home equity loan?

A home equity loan generally allows you to borrow around 75% of your home’s equity. However, you can have higher equity the greater the value of your current home or the less you owe from your outstanding mortgage.

Is a home equity loan a smart idea?

Aside from unrestricted use of funds, a home equity loan will give you lower fixed interest rates and deductible interest payments, using the readily available equity from your home.

What is the disadvantage of a home equity loan?

Since a home equity loan is tied to your home, there can be a risk of foreclosure in case of default. However, lenders also seek to avoid foreclosures and other legal proceedings just as much as borrowers, so they often have solutions.

Do you need an appraisal for a home equity loan in Calgary?

You may need an appraisal to determine your home’s current market value. However, lenders often have offers that covers this and other application fees.

Can you use a home equity loan for anything?

At Alpine Credits, we’re not restricting your home equity loan use. Whether you want to pay for home repairs or invest in a startup business, that money can be used as you see fit.

Homeowners get approved.

Unlike traditional banks, all you need to qualify for a loan at Alpine Credits is to own your home. We make the process as quick and easy as possible. Applying won’t affect your credit score.