A Home Equity Loan is a loan obtained on a property that already has a primary mortgage. The house itself serves as collateral for both the primary mortgage and any second mortgage, which means that failure to pay either could result in the property being forfeited....
Mortgage rates are rising, making it difficult for new home buyers to afford the home repayments. Here are some tips to help new homeowners keep their mortgage payments within their budget. Understanding the Mortgage Types The first and most important thing you...
A home equity loan otherwise known as a second mortgage, is a type of loan in which the borrower receives a large sum of money by obtaining equity from their property. The loan amount is determined by the value of your property, which is then dependent on the...
With the ever-growing competitiveness of the housing market, it’s no secret that real estate has become one of the greatest investments you can make. Better yet, if you’re a homeowner, you have the opportunity to invest in home renovations, which just might hold the...
Between having to financially balance credit cards, mortgages, and loans, many homeowners often find themselves taking on too much debt. What might surprise you is that this is quite common and by no means a bad thing, especially when you have the option to...
Since its introduction in 2018, homeowners across the nation have dealt with financial difficulties and challenges when facing Canada’s infamous mortgage stress test. So to help take the stress off any mortgage concerns you may have, the Leap Financial team has broken...
At Leap Financial, getting approved for a loan with us is easy, and unlike traditional financial institutions where approval of mortgage loans is dependent on your income and credit rating, approval of mortgage loans at Leap Financial is dependent on the equity in your property and only your equity in your property. We can help get you approved for a home equity loan in no time!
