Home Equity Loan Ontario

Put Your Home Equity To Use..

Rated 5 stars by our clients

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Consolidate your high interest credit cards & loans into a lower rate.
Get better monthly cash flow using your home equity to pay off high interest debt.
No more managing your monthly bills to different creditors.
Save thousands of dollars in interest with low mortgage rates.
Get your FREE Ontario home equity loan quote. (No obligations)

3 Simple Steps To Getting A Home Equity Loan In Ontario

Accessing your home equity in Ontario is simple and fast. Equity mortgage lenders don’t require the income and credit requirements of big financial institutions. Ontario homeowners can access the equity in their home, regardless of income, job, or credit.

GET YOUR FREE QUOTE

Complete the form to get your free, no obligation, home equity loan quote and see how much equity you can borrow.

CONFIRM YOUR EQUITY

We will confirm the value of your home, and the available equity you can access. A recent mortgage statement will help!

GET YOUR MONEY

Electronically sign your Ontario home equity loan mortgage approval documents and close in just 48 hours.

Why Ontario Homeowners Are Borrowing Against Their Home Equity

Everybody and every situation is unique in their own way, but here are some common reasons homeowners in Ontario are borrowing against their equity.

Fast Debt Relief

Consolidate high interest unsecured debt & managing lower payment.

Better Cash Flow

Monthly payments and interest rates are always lower on secured loans.

Home Line of Credit

Get a line of credit and only pay interest on the balance you use.

No Minimum Credit

No minimum credit score required for a home equity loan in Ontario.

Some Words From Our Wonderful Clients

Check out some real reviews from real clients.

Sandy Defillat
Stay FAR away from this company. The broker messed up our refinance so badly and caused us stress and anxiety that we still suffer from. They removed my post on FB and blocked me - typical. We were given a one year term and assured by the broker that rates would be better by the following year. We made it very clear that we may not be in a position financially to refinance after a year but were...
Rosa Jackson
Joshua was very kind and considerate throughout the whole process of my application. He took the time to answer any and all questions for me. He offered to explain anything I did not understand, and he was very patient by ensuring good and clear communication was demonstrated between all parties involved. Joshua is most certainly an important valued asset to the company. Thank you Joshua.
chris desantis
I called here on Tuesday to get some information and spoke to Joshua. He handled my situation with expertise . He was always available for all my calls and returned any questions or feedback promptly . Joshua is a trustworthy broker within 4 days I had my funds . Great work Joshua ! I definitely recommend Joshua and Mortgage Commitment for the outstanding service I received . Thanks to everyone .
The Art of Living Joyfilly
I am so grateful for the service that I received at Mortgage commitment in helping me get a mortgage for my home. This was my first time applying for a mortgage and they really walked me through everything prior to even beginning the process. Once the process began, they made sure to keep me updated on every single step of the process and make the whole process extremely easy. They eased my...
Dina Cyriazis
It started with a phone call to Amir on a Sunday , he gave us options and went to work on our Mortgage immediately. Without a doubt Amir Kay has hands down been the most helpful, professional and efficient Mortgage Broker we have ever dealt with and managed to have a great sense of humour along the way. I can honestly say every interaction every instance we have had to deal with him was seamless....

Frequently Asked Questions

Answers to common questions about home equity loans in Ontario

Can I get a home equity loan in Ontario with a 600 credit score or less?

Yes, homeowners in Ontario with a credit score of 600 or less can get access to their home equity. There is no minimum credit score requirement for a home equity loan.

What are the risks of a home equity line of credit?

When using a home equity line of credit (HELOC) your overall monthly payment will increase based on the balance you keep on the line of credit. However, you will be able to make minimum monthly payments of the interest only portion of your balance.

How much will your credit score impact your mortgage rate?

The mortgage rate you get is based on your credit score, but credit does not play a factor in you qualifying for a home equity loan, as the approval is based on equity.
A good rule of thumb to keep in mind is if you have good credit, we can negotiate better rates.

Can I get a home equity loan if I don't have a job?

Yes, you can still get approved for a home equity loan, even if you are unemployed in Ontario.

Home equity lenders in Ontario don’t require any proof of income or employment.

Can you get a home equity loan with less than 20% equity?

Yes, home equity loan lenders in Ontario will finance home equity loans up to 90% loan-to-value (LTV).

How much are home equity loan rates in Ontario?

Home equity loan rates in Ontario will depend on the loan-to-value of the requested mortgage amount. Home equity loans in Ontario up to 90% LTV can range from 8.99% to 10.99%.

When getting a home equity loan in Ontario up to 80% LTV the interest rate can range from 5.99% to 8.99%.

Does a home equity loan hurt your credit?

No, in fact, if using a home equity loan to consolidate credit cards or loans, your credit score will increase once you pay off the debt using a home equity loan.

Have more questions?

Call Live Support 1(877)210-2121

How To Qualify For A Home Equity Loan In Ontario

Step 1: Start with an online Ontario home equity loan quote to see how much equity you can borrow from your home. You may also use our home equity loan calculator to calculate your available home equity.
Step 2: Confirm your equity with proof of your mortgage balance(s) and property value.
Step 3: Sign your mortgage commitment and documents electronically.
Step 4: Fulfil any lender requirements. (Typically property tax statements, mortgage statements, valid home insurance policy).
Step 5: Close with a real estate lawyer and receive your Ontario home equity loan on the scheduled closing date.

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