Before you venture out to buy your dream home, you might want to first gain a thorough understanding of how a mortgage works. Not all aspiring homeowners in Canada have the extra money to pay up front the full purchase price of a property. And so, to be able to afford...
Principal and interest are the two primary components of a mortgage payment. Aside from any necessary fees involved, the principal and interest make up for all the money going out when paying back your mortgage. In its simplest definition, the principal is that...
As an alternative option to home equity loans, a home equity line of credit – or “HELOC” – is a loan in the form of a revolving line of credit that is secured by the equity contained in your home. Because the loan is directly backed by a tangible asset, it is possible...
If you have less remaining mortgage balance than the value of your house – you’ve got equity. If you happen to find yourself in such a fortunate position, you are eligible of taking out a Home Equity Loan, otherwise known as a Home Equity Line of Credit (HELOC). A...
Owning a home in this day and age is now harder than it has ever been. If you’re reading this, you’re likely aware of this, even if you’re not already in the market for a place. Whether you’re looking at a property in the heart of Vancouver or elsewhere Lower...
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!
