How Much Can You Borrow From a Home Equity Loan?

Let me ask you a simple question. When was the last time your bank instilled any confidence in you towards your borrowing options? Or helped you feel you could achieve your financial dreams? This is the last time you will feel your confidence shaken.

Home Equity Bank Versus Other Lenders

Each lender in Ontario is regulated differently and has a set of lending restrictions that guide their Home Equity Loans. This means who you approach will give you a different answer to how much you can borrow.

Now you come from a long line of craftsmen and artisans and due to relocation you now find yourself self employed and running low on cash.

Your dream has and will always be to secure a gorgeous undervalued piece of land and build your dream home. You got a tip from a friend on the perfect lot and want to move on buying it today!

You approach your bank and they say they can only provide you with 50% of the money needed towards the purchase of the land. And that is if you were working full time and had the cash reserves to buy the land. AAH!

Can You Get Your Home Equity?

So now your confidence is wavering. No steady work, family is far away and can’t help, and the dream is farther off than it has ever been.

You doubt that you will ever be able to fulfill the dream that has been in your heart since you were young. Or…

There is a way back from this place of seeming defeat. It is called the ‘Book of Remembrance’ and you are capable of using it too. Taking the time to write out all the times you were able to overcome challenges in the past.

Ultimately remembering who you are and where you come from. Yeah, you know the guy. It was you when the family looked for advice on designing the family cottage. It was you who have been commended by your loved ones for your skill at building in the past. Remember? 

Now all you need is a Mortgage Agent who can pull some strings and get you the money you need to buy that piece of land. 

How Much Home Equity Do You Need?

Now that you have pulled yourself up by your bootstraps it is time to see what can be done. You own your home…check! You have maintained your credit to the best of your ability…check! Then I have a lender for you.

We approach a non bank lender and secure the full amount you need for the land and even a bit extra to get the permitting process started. How’s that for a confidence boost!

Choose a company that represents you in the transaction. – You would be surprised to learn how often the person you are speaking to over the phone who is supposed to be helping you is legally only working on behalf of the bank.

I work for you and have access to lenders who will provide up to 90% of your home’s worth in a Home Equity Loan and there are ways to achieve even more through a Self Directed RSP Mortgage. It all comes down to how much you need.

Quick example: Your home is worth 750K and you have a 1st mortgage of 500K. We can borrow up to 175K.

Find out more about all of the things you need to know about your Home Equity Loan Made Simple

The Truth About Home Equity Loans

Often our reality is shaped by who we listen to and take advice from. If you let your bank tell you what is possible you will feel defeated. Or even worse, letting the negative voice in your head tell you you’ll never achieve the dream of your heart. You can’t afford to let this happen.

So no regrets…you are not going to miss out on your dream…your destiny even! I want you to be recognized by those you love as the Master Builder of your future and secure your Home Equity Loan today. Contact me below and let’s begin realizing your dream.