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....
As you may have heard, mortgage rates are going up daily, making it nearly difficult for you to afford mortgage instalments. Here are a few ways to still help you save money on the mortgage. Follow these tips, which will help you save on your mortgage. Work on...
In mortgage refinance, the bank or lender pays off your previous loan and replaces it with a new one; this is why the term refinance is used. Most borrowers go for refinancing to lower their interest rate and shorten their payment term or to take advantage of shifting...
A credit score of 680+ is vital to qualify for the best mortgage rates. But there are many other factors to know about credit scores and how they affect your mortgage rates. Most people don’t even know where to check their credit scores. Whether you get your...
For many young Canadians, purchasing a home is part of a life-long goal. Of the many elements involved – securing a downpayment and making sure the timing is perfect – getting an affordable mortgage option is arguably the most important. Have a good credit...
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!
