Frequently Asked Questions

Helping you work towards a brighter financial future

Your Private & Local

All-In-One Lender

Leap Financial is your all-in-one private lender. As proud Canadian private lenders, for many successful years, the Leap Financial Team has been helping British Columbian residents with home equity loans, finding homeowners the money they need for whatever their financial endeavours may be. The Leap Financial Team consists of financial specialists with over 20 years of industry experience who whole-heartedly care about your financial well-being. We want to provide you with the solutions to your financing needs.

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What products and services does Leap Financial offer?

Leap Financial offers personal loans and home equity loans to Canadian’s in British Columbia.

What is a home equity loan or second mortgage?

A home equity loan may also be known as a second mortgage. The mortgage you obtained when you purchased your home is your first mortgage and a subsequent mortgage or a home equity loan is considered your second mortgage.

Second or third mortgages can be used to consolidate debt, renovate your home, pay for you or your child’s education, start or finance a business, or be used for any reason you see fit.

If you are considering taking out an additional mortgage on your home, we encourage you to speak with our mortgage specialist who will discuss your unique financing needs. After researching and discussing your options, we will provide you with the best financing solution for you. Get started today with our free zero-obligation application and see the type of rates you can get approved for!

How do I calculate the equity I have in my home?

Use the following equation to calculate how much equity you have: Value of your home – Amount owing on your mortgage = Home Equity


Appraised Value


Your Mortgage


Available Equity

You could have access to a portion of that home equity within a week of applying with Leap Financial!

What can I use a home equity loan for?

You can use a home equity loan for anything! Some common reasons include debt consolidation (ex. paying off high-interest credit card debt), home renovations, growing your business, starting a new venture, paying for education, and providing you with additional cash to cover any unexpected situations that may arise.

Why should I use Leap Financial for my home equity loan needs?

Leap Financial is on your side and strives to provide you with the funding you need. Traditionally this hasn’t been an easy process for customers, but with our expertise in the industry and our firsthand experience of having gone through the lending process, we decided to build Leap Financial on the principle of serving our customers’ needs FIRST!

Do you have any example loans?

Here are some typical loans from Leap Financial. Click here to see them.

How do I apply for a loan?

Applying for a loan at Leap Financial is a smooth and easy process. Simply begin by completing the free online application form, and that’s it! It takes less than a minute – it really is that simple! A lending expert will contact you shortly after with a quote including the personalized terms and conditions of the loan. Click here to get started!

How much can I borrow?

With Leap Financial, you can borrow anywhere from $10,000 – $2,500,000 depending on the equity you have in your home. Click here to get started.

How long does it take to complete the application?

Not long at all! We have designed a quick and easy, zero-obligation, loan application process that takes less than a minute to fill out. No documents are required at the time of application and you are permitted all of the time that you need

Shortly upon completion, one of our specialists will reach with terms and conditions tailored to your needs.

When will I know if I am approved?

Shortly after completing the online application form! We strive to approve our valued customers within 24 hours of their application submission.

When will I receive my funds?

Quickly! We have worked out a process designed to remove typical bank delays. Shortly after you sign your commitment letter, your funds will be deposited directly into your account.

Can I pay off the loan earlier?

The loan is payable over 36 months, but if you are able to, you can pay it off earlier.

Are there any restrictions on how I can spend my money?

No, there are no restrictions. Leap Financial loans are any-purpose loans, meaning you can spend the money however you choose!

Do you accept people with bad credit?

We accept customers with all types of credit scores. We base our decision on multiple criteria including, but not limited to, your existing credit score. This means that you can be accepted for a loan, even if your credit score is low, as we focus on the equity you have in your home.

How can a debt consolidation loan save me money?

A debt consolidation loan can help pay off several high-interest loans (such as multiple credit cards) at a lower rate. By doing this, you can reduce your monthly payments by as much as two thirds. Click here to learn more.

Can I use the money for debt consolidation?

Yes! You can use your home equity loan or personal loan for debt consolidation. Moreover, you can use the money to pay off your outstanding debt from various creditors, and only have to make a single payment to Leap Financial. Click here to learn more!

Can a home equity loan cover home renovations?

Definitely! Home improvements can significantly increase the value of your home, whether you are updating the bathroom, kitchen, or basement. Even if you aren’t selling your property and want to engage in some DIY projects, a home equity loan can help increase the overall valuation of your house. Click here to learn more!

Would I be eligible for a business loan?

Yes, if you are looking to start a business or cover any current costs of your existing business, then we can help. The application process is easy and once approved, you will get the funds you need, fast. Click here to learn more!

What is a bad credit loan?

A bad credit loan from Leap Financial only requires you to be a homeowner. Even if your credit is bruised or in bad shape, or if you are self-employed, the lending experts at Leap Financial will try to find a way to help.

Why should I reconsider financing my existing mortgage?

There are several reasons why you may choose to refinance the loans you already have. Some of the reasons include:

  1. Lowering the monthly payment
  2. Lowering the interest rate
  3. Switching from a variable rate mortgage to a fixed rate mortgage or, vice-versa
  4. To refinance for a higher amount in order to pay off other debts or get cash
  5. To change the remaining term of the loan
  6. An existing lender may choose not to renew the existing loan and a new lender is needed
Can a home equity loan cover unexpected expenses?

Yes! We understand that unfortunate circumstances may arise and we are here for you. Apply for a home equity loan today and we will provide you with the funds you need. Click here to learn more!

How secure is my personal information?

We use industry-standard security software, similar to the technology that banks use to protect your personal information.

Where does Leap Financial operate from?

The head office for Leap Financial is based in Langley, British Columbia, Canada. We offer our services to British Columbia residents for all personal loan and home equity loan needs. Learn more about Leap Financial

What are your hours of operation?

Monday to Sunday: 9:00 AM – 5:00 PM PST

Contact Leap Financial