HOME EQUITY LOANS
Clients aiming to unlock financial resources can utilize our home equity program. Source Capital has exclusivity to one of Canada’s largest home equity credit funds, allowing for us to bring our client’s goals to a transactional reality. A home equity loan is one of the money financial resources available to home owners aiming for additional financing. A home owner pledges their equity in their asset as collateral. Generally, clients are given two options, closed end and open end loans. When a client receives it create a lien against the client’s residential asset. This allows for clients to free up their money for other financial obligations. The loan is dependent on the value of the real estate asset to be determined by the lender.
These options are also available for clients with a weaker financial position. Our Home equity programs allow clients to utilize 85% of their locked equity. Clients in these instances are only required to payback the equity they have utilized. This is a great option for homeowners with businesses looking for additional growth or consolidation funding. Our program allows us to create tailor made solutions which allow our clients flexibility in terms and payment frequencies.