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Home equity loans in Vancouver

Whether you need $10,000 or $500,000 – Alpine Credits is the best alternative lender for home equity loans in Vancouver, BC 

How home equity loans in Vancouver work

In Vancouver, you can borrow up to 75% of your home’s equity value. To calculate your home equity, subtract your outstanding mortgage balance from your home’s appraised value. 

An illustration of how home equity works.

For example, you have a home worth $500,000, and have an outstanding mortgage balance of $100,000, your home equity is $400,000.  

At Alpine Credits, once we have determined your available equity, you’ll receive a response to your application within a day. One reason we move so quickly compared to other lenders is that your equity is the primary consideration. After approval, the funds will be deposited directly into your bank account.

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Signs a home equity loan is right for you

Home Equity Loan in BC

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 home equity financing. 

Vancouver residents might find themselves with multiple loans with various lenders. Consolidating those balances is simple with home equity loans in Vancouver, this may help you reduce the interest on the loans and eliminate them faster. 

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 provide a down payment on an investment property. 

Selling your home is an important financial decision as you 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 hit with substantial taxes. Home equity loans in Vancouver let you unlock money from your property without worrying about these potential consequences. 

If you want to start a business or need extra funding for your current one, a home equity financing can be one solution to your business’ financial needs. Qualifying for a regular business loan requires a high personal credit score and a potentially a detailed business plan. Home equity loans in Vancouver can provide more than enough funding as long as you have enough equity in your property.

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Ways to use your home equity in Vancouver

It can be used to cover any major expense, including: 

  • Repayment for outstanding financial obligations 
  • Tuition fees 
  • Home renovations 
  • Investment property purchases 
  • Large tax bills 
  • Health expenses 
  • Business startup costs 

Learn more about how Alpine Credits customers use our loans here. 

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Home Equity Loan in BC

Benefits of our home equity loans in Vancouver

heloc vs mortgage

Here are some benefits you’ll enjoy by choosing Alpine Credits as a preferred lender 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.

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.

These loans come with a fixed rate, so payments are predictable and can be manageable. The monthly payment doesn’t change, regardless of any outside factor, making it simple to incorporate into your budget and financial planning.

This kind of loan is perfect for loan consolidation. Instead of making several payments throughout the month, use a home equity financing solution from Alpine Credits to streamline your repayments. The loan amount can be more than enough to cover your outstanding balances and has a comparatively low interest rate.

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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!

Frequently asked questions

Alpine Credits is the best place to tap into your home’s equity value. For more than 50 years, Alpine Credits has been helping Vancouverites secure loans with competitive interest rates.

The closing costs are dependent on the amount of the loan and other factors. Contact us to get a quote and learn about our rates.

One way you can get a home equity loan in Vancouver is to apply at Alpine Credits. The process is simple, and you can receive the money within days.

While most traditional banks offer home equity loans in Vancouver, they have criteria only some people can meet. Qualifying for a 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.

The exact amount depends on the lender you choose, but the maximum amount you can get is 80%. You can borrow up to 75% of your home’s equity value with Alpine Credits.

Getting one from a bank is a long process that can be challenging for those with credit scores under 600. At Alpine Credits, your credit score doesn’t determine your approval. You may qualify for a home equity financing as long as you own at least 25% of your home.