The Best Alternative to the Banks for Canadian Homeowners Needing a Loan

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Qualifying for a loan from one of Canada’s Big Five banks has always been challenging. The requirements have only gotten tougher in light of COVID-19’s continued pressure on personal finances.

Thankfully, an alternative exists for Canadian homeowners in need of a loan – Alpine Credits.

How Home Equity Loans Work

With Canadian property valuations higher than ever, Alpine Credits believes no homeowner should have to jump through hoops for cash – even if they’re out of work or having money issues. That’s where home equity loans come in. As long as you have equity in your home, Alpine Credits will give you a cash loan within 24 hours.

Their formula for calculating home equity is very simple. They take the value of your home, subtract your remaining mortgage, and voila! The resulting number represents the amount you can borrow, whether it be $10,000 or $500,000.

It’s an incredibly transparent process, the likes of which you won’t find when applying for a loan at any major bank.

Typical Bank Loan Application Process

Step 1: Submit an extensive summary of your personal finances, including:

  • income reports and employment details (both of which will be verified)
  • permission to conduct a credit check
  • financial statements
  • a description of any collateral you have

Step 2: Wait several business days to hear back from the lender.

Step 3: If the lender requires additional information, they’ll get in touch with you to request it.

Step 4: Unless you have stellar credit, strong income, and little to no other debt, you’ll likely find out you’ve been denied several business days after initially applying.

Step 5: Repeat with all the other banks before resigning yourself to a costly cash advance from your credit card.

Typical Alpine Credits Home Equity Loan Application Process

Step 1: Submit some basic information about your home and its value.

Step 2: If you have equity in your home, receive an approval within 24 hours, and prepare to receive your loan (Alpine Credits can transfer the money right to your bank account). It’s really that simple! They don’t care about your income or credit score – just that you have equity in your home.

Common Uses for Home Equity Loans from Alpine Credits

Canadians use home equity loans from Alpine Credits for countless purposes, including…

Investment

Has a great investment opportunity caught your attention? Whether you’re looking to grow your business, invest in the stock market, or buy a rental property, Alpine Credits can provide the necessary capital.

Most banks flat-out refuse to provide investment loans to anyone who isn’t a professional with a well-documented strategy for success. Alpine Credits trusts you to make wise decisions with your own equity.

Home Renovations

Canadians are spending more time at home than ever before. Renovations can make homes more accommodating and conducive to productivity. Whether you’re looking to convert that unfinished basement into an office or add a swimming pool, Alpine Credits is ready to provide funding.

Debt Consolidation

While big banks shun Canadians with debt, Alpine Credits will help you get back on track with a debt consolidation loan. They don’t care how many loans you’re looking to consolidate or even what the amount of debt is. As long as you have the equity in your home, they’ve got you covered!

Tax Debt

Not sure how you’re going to pay your taxes this year with all the extra expenses you’ve incurred? With a home equity loan from Alpine Credits, you won’t have to worry about those brown envelopes piling up.

New Immigrant Expenses

Setting your roots in a new country can be challenging in any normal year. COVID-19 has left newcomers at a particular disadvantage when it comes to securing loans for automobile purchases, business development, education, and more. If you own your home, Alpine Credits will give you a warm Canadian welcome and help you get started on the right foot.

Education

Many Canadians have taken this year’s lull in hiring as an opportunity to upgrade their skills and enter exciting new fields. Education is still as costly as ever, though. Avoid high-interest debt by funding your education with a home equity loan.

Home Equity Loan Benefits

Here’s why home equity loans are such a popular option among Canadian homeowners.

Lower Interest Rates

Because home equity loans are a secured type of borrowing, you can expect to pay lower interest rates than you’d find with credit cards and other types of unsecured personal loans.

Use Your Equity for Whatever You Want

While we’ve listed many of the common reasons people apply for home equity loans, the truth is that you can use your equity for whatever you want! This differs greatly from bank loans, which can only be used for a relatively limited range of purposes.

Access Home Equity Without Selling Your Home

Many Canadians are unaware of the fact that they can benefit from their home’s rising value without actually selling it! This means you can continue to benefit from increasing property valuations since your equity never actually leaves the market.

Flexibility

Alpine Credits understands that times are hard. That’s why they’re far more flexible with their repayment terms than the big banks.

Canada’s Top Alternative Home Equity Lender for Over 50 Years

Alpine Credits is no newcomer to the Canadian home equity lending market. They’ve been around for over 50 years, providing personalized guidance and financing for borrowers accustomed to receiving cookie-cutter rejection letters from big banks.

Throughout this time, they’ve maintained an A+ rating from the Better Business Bureau – a testament to their high-quality service in an industry (subprime lending) plagued by predatory lenders.

Don’t place your financial future in the hands of unethical private lenders just waiting to swoop in and hit you with high fees and harassing telephone calls the moment you’re late with a payment. Instead, apply for a loan from Alpine Credits – where homeowners get approved.

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