What Is A
Home Equity Loan?
Also known as a second mortgage, a home equity loan is the type of loan in which the borrower uses the equity of their home as collateral. The loan amount is determined by the equity you have in your home. They can be used to help with debt, home renovations, business, or other expenses.
Here’s an example scenario: Value of your home – Amount owing on your mortgage = Home Equity
700k
Appraised Value
200k
Your Mortgage
500k
Available Equity
What this means is that you have $500K in equity. With that, you would be able to borrow up to a specific percentage of that equity. If you have large expenses you need to cover, thinking about starting a new business, or even want to do a home renovation, you might want to use this equity to help you. Empire Equity can help Albertans get approval on loans from anywhere from $10,000 to $5,000,000 with our simple, straight forward process. Start our free, no obligation process today and see how much we can get you approved for!
A Home Equity Loan Can Be Used for Anything:
- Renovations
- Consolidating Debt
- Improving Your Credit Score
- New Business Ventures
- New Vehicles
- Taxes
- Tuition
- Any just about anything else!
Want A Stress-Free Loan Process? Start with Empire Equity.
We Are Here For You!
Stress Free and Transparent Lending Process
Apply Online
Let us know how much you want to borrow – whether it is $10,000 or $5,000,000 – we can help!
Quick Approval
We want to help you as much as you want our help! We assure quick response times so you aren’t stuck waiting on the process to begin.
Get Your Money
As soon as you’re approved, we’ll make sure that the money hits your bank as quickly as possible!