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Home Equity Loan

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No Income or Credit Check
Fast Approval

Fast Home Equity

Fast home equity loan approved with home equity. No credit or income required.

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90% Home Equity

Home equity loans 90% LTV from direct home equity lenders. Fast Access To Home Equity.

Home Equity Line Of Credit

Bad Credit Approved

Bad credit home equity loans approved as the loan approval is based on equity.

What is a home equity loan?

Home equity loan explained

A home equity loan is a type of mortgage which the approval is based on the money, in the form of equity, available in their home. Home equity loans have minimum requirements for home owners looking to obtain cash from their property. Since the loan is an equity based mortgage loan, the borrower’s income and credit are not factors for approval of a home equity loan.

How does a home equity loan work?

Getting approved for a home equity loan

Since a home equity loan approval is based the equity available in a property, home equity lenders must confirm the property value, marketability, condition of the property, and the mortgage balance. The mortgage balance can be confirmed with a How Home Equity Loans Work

recent mortgage statement, or by a lawyer requesting an information statement from the existing lender(s). 

Home equity lenders will traditionally lend up to 90% loan to value (LTV).  For example, for a property worth $500,000, with a 1st mortgage balance of $300,000, the maximum amount of money accessible to the home owner is 90% of the home value, which is $150,000 as a home equity loan. This is calculated as (Property Value x 0.90%) – Mortgage Balance = Equity Available.

Home Equity Loan With Bad Credit

Bad credit home equity loans

Regardless of your credit score, you can access your home equity. Bad credit home equity loans are approved from direct home equity lenders, who don’t have a minimum credit score requirement for a home equity loan. Income and credit are not required to qualify for a home equity loan. Bad credit home equity loans approved on home equity. The only requirement is for an appraisal to be conducted, by a professional appraisal company, to determine the value of the property, and provide a report on the condition of the home.

How much equity can I borrow from my home?

Use the home equity calculator to see rate & payment

Home Equity CalculatorHomeowners can access up to 90% loan to value (LTV), in major urban areas in Ontario. Some lenders may scale back the loan to value to 75% or 80% for more rural properties which don’t have a large population. Essentially, lenders want to ensure there is sufficient equity in the event the mortgage falls into default, and they are able to successfully sell the property for an amount to get their investment out.

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