WITH LOW INTEREST RATES, IT’S A GREAT TIME TO GET A HOME EQUITY LOAN!
It’s a good time for a Home Equity Loan!
n October 25, the Bank of Canada met and decided to not change its key lending ratefrom 1%. It has held this percentage for just over a year, which enabled prime rate to remain at 3%.
With Canadian inflation for core items hitting a 3 year high in September, US
economic growth that is faltering and continuing economic troubles in Europe, the Bank of Canada wanted to ensure that the Canadian economy continued its path to full recovery.
The Bank of Canada expects the Canadian economy to return to full capacity by the end of 2013, and our financial system is functioning well, so interest rates should remain low until then.
Consolidate your Debts with a Home Equity Loan
It is a good time to consolidate debts with a home equity loan. If you are paying high credit card bills, an unsecured credit line or need to invest in your business, home renovations or need a new vehicle, a home equity loan is a great option.
A home equity loan allows you to borrow money using the equity in your already in your home as collateral. Many people use this option to pay off credit cards, to pay for college/university tuitions or to consolidate debts.
Since a home equity loan is secured against your house, it is possible to borrow a larger amount of money at a lower rate of interest to pay for your important expenses. This is ideal for a large purchase, such as a car, tuition or to pay off your debts. A home equity loan is one of the best ways to consolidate your debts and build your credit.
With interest rates so low, this is a great time to get a home equity loan and lower your monthly payments, so you are in better financial shape when the economy and interest rates go back up in 2013.
One Stop Mortgage can help!
A mortgage broker can help you get the most out of your home equity loan. At One Stop Mortgage, the home equity loan specialists can assist you in getting the home equity loan you need to improve your credit, pay off your bills and get your life back. It’s important to get someone who cares about your financial well-being and will get you the best rates – that’s what the One Stop Mortgage team specializes in.
Normally to qualify for a home equity loan there are many restrictions. With the One Stop team you can get access to excellent loan options even if you have credit issues, are self-employed or have little or non-verifiable income. Since a home equity loan is based on your home, it provides you with so many options not available in unsecured loans. It is an excellent option you can use to get your finances in order, refinance, consolidate your debts, complete renovations, and much more.
Over the years the value of your home has grown, particularly with the growth of real estate values over the past 10 years. Are you using your home equity to its greatest advantage, particularly since interest rates are so low and it looks like they will remain low for a long time?
It’s time to get the most out of your investment in your home and get access to the money you need.
Contact our home equity loan specialists at One Stop Mortgage today at 1-877-874-8988 or get started now by filling in an application here.
A home equity loan from One Stop Mortgage is a great option while interest rates remain at historic lows and the value of real estate continues its increase in value. It’s time to get started on that new project, get ready to pay your child’s tuition for the upcoming term, start your new business or pay off your credit cards with a home equity loan from One Stop Mortgage.