Helping Alberta, BC, and Ontario home owners access their Home Equity through alternative financing sources in a fair and efficient way.
We connect home owners with alternative financing solutions even in the toughest financial situations. Utilize our home equity lending network to discover low rate and fast funding options. Contact us with no obligation and learn how we can benefit you as a borrower or mortgage investor.
Borrowers use loans to consolidate debt, improve their homes, finance major purchases, and more.
We efficiently obtain approvals and funding through our network of equity focused lenders.We Make The Perfect Match
Lenders recieve attractive returns on the secure loans made against the borrower's home equity.
Our online application will take you less than a minute to fill out and you can start getting information on your available financing options as quickly as possible. Reach out to us with no risk or obligation.
Like our name suggests, if you have adequate equity in your home, you can be approved. The funds you need are that accessible!
We get you answers on your available options, with lenders readily available to advance your funds fast!
It can be tough to hear “no” from the banks but don’t feel discouraged. Get the approval you need even through the toughest situations.
Enjoy a stress free process to access the funds you need with efficient and professional service.
Loans secured against home equity as investments offer attractive benefits and yields.
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Albertan's have been borrowing against their home's equity in record numbers. The Alberta job market and recent mortgage stress test has resulted in incre...
The RRIF is very similar to an RRSP and you can still enjoy the benefit of having your investment earnings grow tax free and have them taxed on receipt. T...
No Application Fees - No Risk or Obligation Quote - Get Approved Online
We are able to help clients access funds in good and even the most difficult financial scenarios. Our specialty is Home Equity Loans and we can help you when other companies are not able or won't even attempt to service your situation.
I tried several other 'equity' lenders to pay property tax arrears with no success as my property was outside Edmonton and I am a small business owner. Equity Approved was able to look at my situation in depth to get me a fast approval which prevented foreclosure.
Due to some previous financial complications, I had no luck getting a loan through three different mortgage brokers. I saw an ad for Equity Approved and gave it a try. I was able to get a fast approval and the capital I needed for my business!
Work has not been as consistent in recent times and we wanted to lower our monthly payments with a consolidation loan. We didn't meet the bank criteria but Equity Approved helped us get a great option with an approval the same day!
As my income is not traditional, it was difficult for me to get a loan through the bank. The process was quick, easy, and I got really good terms compared to another quote. Would definitely work with Equity Approved again. Thanks!
We own multiple investment properties and needed a loan to renovate one of them. Due to some complications with one of the properties, it made it so we were unable to qualify with our bank. Equity Approved was able to get us a fast approval.
There is no difference between a mortgage and a home equity loan. When thinking about a mortgage, typically "buying a home" comes to mind. This is the mortgage you get to purchase a property and is typically the "first mortgage" registered on title. A home equity loan is often referred to as as a second mortgage (if the original mortgage has not been paid off) which you can get if there is sufficient equity built up in your property.
Banks are regulated by the Office of the Superintendent of Financial Institutions (OSFI) which govern the way bank funds can be used as they are leveraging the deposits of their customers. Changes in regulations set by OSFI in has resulted in the lending criteria for banks to become significantly tighter in recent years. Even though the bank wants to make the loan on your property which has sufficient equity, they cannot. There is a certain set of criteria for credit scores, debt service rations, income verificaitons, and more which must be accomplished or the loan will be unable to fund. Even in situations where the property has a lot of equity, and even clear title, the applicant could be turned down for an equity loan. Fortunately, there are institutions and private lenders which do not fall under the umbrella of the OSFI and are able to lend money outside of these restrictions.
If you have equity in your property, EquityApproved.ca works with investment instituations with flexible requirements and private lenders who are willing to analyze your loan based on the available equity you have in your home. Reach out for a discussion with no risk or obligation to see how much you can qualify for today.
Typically, $20,000 would be a minimum requested for a private home equity loan.
When you lend money to a borrower, they will pay you back with a set amount of interest. The principal, or original amount of the loan, is your investment. The return on investment is the interest you recieve on the loan. The final return on investment can be calculated when you total the money you recieved back after the loan has been paid out, including any fees such as prepayment privileges.
Borrowers require private funds when they are in situations where the bank will not be able to finance them. Reasons for bank declines include being off work due to injury or market slowdown, having collections on credit file, and having income or property tax arrears. Regardless of the amount of equity in the property, the bank will not be able to lend outside their guidelines. The idea is to fix the immediate problems for the borrower so that they once again can fit within the bank guidelines. Sometimes you may hear of private funds referred to as "bridge financing" as they are meant to bridge the gap until the borrower can once again qualify with traditional institutions. Once the arrears are paid and the borrower is back to work, their credit score will increase and then more options are available to them. That is typically when the borrower will then have the other institution pay out your private loan. Other scenarios include having an investment mature, sale of another property, or inheritance.
Lending can be done through your personal savings, business accounts, or even registered funds such as RRSP and TFSA to grow your portfolio tax free!
No. EquityApproved.ca is the mortgage brokerage which is arranging the loan and you are the direct lender. We never receive any money from you and you are not investing in our brokerage. When making a mortgage investment, you are directly lending your money to another individual with the security of their real estate backing the loan. The loan, handling/dispursment of funds, and registration of mortgage on title is handled in trust through a real estate lawyer. EquityApproved.ca simply sources and arranges the transaction between the parties invovled.
It is free to be a part of the EquityApproved.ca lending network. We only need to understand your lending criteria and we can start notifying you of lending opportunities with matching criteria.