Home Equity Line of Credit Ontario
Simply put...
A Home Equity Line of Credit (HELOC) is one of our most popular and flexible borrowing options. A HELOC is especially useful if you are anticipating needing quick access to funds and don’t want to wait to get approved. Whether you have an urgent home repair or another life emergency, you will have the funds available for what you need, when you need it.
The Benefits of a HELOC from Burke Financial
We work with homeowners all over Ontario and across the Greater Toronto Area to get access to the equity in their properties for a wide range of goals including debt
consolidation, renovations, business investment and much more! Regardless of your level of debt, income, or credit history, we can help you.
Our goal is to help our clients get to a brighter financial future and give them the possible customer experience while doing so. As mortgage brokers specializing in subprime
mortgages, we have the tools and resources to help you secure the money you need without the wait.
A Home Equity Line of Credit in Ontario could be your best option. Consider what you can do with a loan on your house equity:
Fully Open to Repayment
A Home Equity Line of Credit (HELOC) is always fully open to repayment at anytime, and can be reborrowed as needed. This gives you the freedoom and flexibility to make as small as the minimum payment each month or even pay off your balance in full is you so chose. This can be very attractive to clients who also want to pay down more than the minimum each month.
Immediate Access to Equity
Once you register your Home Equity Line of Credit (HELOC), even if you do not advance the funds right away, you will be able have immediate access the funds typically in less than 24hrs and in most cases, online, directly to your bank account. This can be very important when opportunities arise, or in the case of needing emergency funds. This makes the Home Equity Line of Credit (HELOC) one of the most population solutions for most clients.
Cash for Renovations
Whether you have a project that you want to complete or are worried about having funds available to finance an emergency home repair like a leaky roof or cracked foundation, a Home Equity Line of Credit (HELOC) allows you to tap into the equity in your property to complete those renovations and have quick access to funds for emergency repairs.
Cash for Investments
When a great investment opportunity arises, it’s important to be ready to act. Having quick access to funds through a HELOC allows you an opportunity to take advantage of those investment opportunities when they arise and make the most of them.
Reduce Monthly Payments
By using a Home Equity Line of Credit (HELOC) to consolidate higher interest debts you can reduce your monthly payments. In many situations, we have helped our clients reduce their monthly payments by up 75%! Helping our clients not only be able to better afford their obligations, but also be able to put money aside for what matters most!
Rebuild Credit
Because a Home Equity Line of Credit (HELOC) is typically registered on your credit bureau, making consistent on-time monthly payments towards your balance is a great and efficient way to rebuild your credit. Every time you make a payment you will be slightly increasing your credit score and working towards better financial health.
Home Equity Line of Credit
A home equity line of credit or HELOC is a line of credit taken out by a borrower to access the equity in their home. The amount you can access is based on the amount of available equity in your home, which is determined by subtracting the appraised value of your home relative to any existing mortgages. The more equity you have available, the larger the line of credit amount you can qualify for.
Whatever the reason you have is for needing to access your equity, HELOC loans are a great solution that allow you to access equity with flexible terms and payment options. One of the biggest advantages of getting a HELOC loan versus other borrowing options is that you only pay interest on what you have advanced so you only need to pay for what you use.
Our team specializes in getting our clients approved for Home Equity Lines of Credit with great rates and terms. Depending on your goals, a Home Equity Line of Credit might be the perfect fit!
We Can Help You Secure a HELOC And Tap Into Your Home Equity
A home equity line of credit or HELOC is a line of credit taken out by a borrower to access the equity in their home. The amount you can access is based on the amount of available equity in your home, which is determined by subtracting the appraised value of your home relative to any existing mortgages. The more equity you have available, the larger the line of credit amount you can qualify for. Whatever the reason you have is for needing to access your equity, HELOC loans are a great solution that allow you to access equity with flexible terms and payment options.
Why Choose Burke Financial
At Burke Financial, we specialize in communicating with lenders on behalf of our clients’ needs to get the lowest possible interest rates and establish a successful payment plan.
Our mortgage brokers are available on-hand to improve the borrowing experience of homeowners throughout Ontario. As a customer service leader, we’re committed to creating a positive and seamless borrowing experience for all of our clients.
Contact us today to learn more about your options.
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Happy and Satisfied Customers
Frequently Asked Questions
Mortgage brokers are licensed financial professionals that have the resources to find the lowest rates and the appropriate payment plans for their clients. Working with a broker will save you time and ensure you get the best possible deal.
The role of a mortgage broker is to act as a connection between the borrower and the lender to secure a loan on behalf of the individual or their business. Their responsibilities include negotiating rates, dealing with the paperwork, and facilitating an agreed-upon loan and payment plan
A mortgage broker acts as the middleman between you and the extensive paperwork involved on your behalf for a set fee. They are often able to foresee problems that could arise during the application process and tailor your application based on what each lender needs.
One of the most significant benefits of working with a broker is their extensive network, as they have the tools and resources to identify and obtain the loan that will fit your needs.
A mortgage broker compiles a homeowner’s financial documents, accesses their credit history, and confirms current and past employment to present an application to multiple lenders. They help negotiate the terms and conditions of your payment plan and, once the loan is agreed, will work with the lender to ensure a smooth and efficient transaction.
Mortgage broker fees in Ontario vary based on your unique situation and the solution you are seeking. Contact us today for a more personalized estimate of what you can expect your fees to be.
Owning a home is an investment that deserves detailed attention and care. When unexpected expenses occur, or you need to consolidate your debts, it’s essential to find the right broker to step in and offer a solution tailored to your financial needs. We operate with a vast network of lenders, including subprime mortgage lenders across the province, and we’ll work diligently to find the right match for our clients.
At Burke Financial, our mission is to give homeowners across Ontario the best possible borrowing experience through a high level of service and expertise.
When you work with us, you’re working with an award-winning team that specializes in getting even the toughest of applications approved. We’re putting money in your pocket faster, so you can invest in your future.
Burke Financial offers mortgage broker services, with a specialty in subprime mortgages, across the province of Ontario.
At Burke Financial, we know that each homeowner’s experience is unique. We offer a personalized approach and help connect our clients with subprime lending options across Ontario. From day one, we treat each interaction with our clients as a chance to change their borrowing experience to a positive one.
We take the time to understand what our clients are looking to accomplish with their applications. We personalize short-term and long-term solutions to help our clients achieve long-term financial health.
We look at our client’s main priorities to make sure we shape the optimal payment amounts, term length, prepayment privileges, interest rates, and much more. We know how important it is to align our clients with reasonable rates and terms and educate them on areas like an exit strategy to make sure they are always on the right path.
As an industry-leading Mortgage Brokerage, we leverage our vast network of banks, institutions, MICs, private lenders, and investors to connect our clients with some of the best lending options.
Even if your credit score is below 650, our vast lending network allows us to deliver approvals for even the most complex applications. We believe every homeowner deserves to make the most of their home’s equity. We negotiate on your behalf and shop your application to multiple lenders to get you the most competitive rates and terms.
With our quick turnaround times, we can put money in your pocket in as little as 48 hours. Our goal is to deliver the best possible results for our clients and deliver them fast!
Communities We Serve
We provide service throughout all of Ontario with a focus on the following cities:
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