What is Home Equity?

The difference between the appraised value of your home and the unpaid balance of your current mortgage makes up your home equity. You can grow your equity by paying down your mortgage, but it can also grow on its own if the appraised market value of ...

Why should I use a Private Lender?

Simply put, Private Lenders have fewer restrictions than a bank on who they can lend to. For example, someone can inherit a $900,000 home from their mother. This home is in disrepair and has $150,000 left on the mortgage. If you have bad credit and tax debt you usually wouldn’t ...

Why Did Canadalend Deny My Application?

By Jayne B0 comments
Why Did Canadalend Deny My Application?  Canadalend is committed to helping clients with mortgage requirements, debt problems and financing concerns. Our expert staff at Canadalend use years of experience in mortgages, debt reduction, bruised credit, debt consolidation, mortgage ...

What is the Difference Between a Co-Signer and a Guarantor?

What is the difference between a co-signer and a guarantor?   I am a little confused regarding the differences between a consigner and a guarantor. Do I need both to be able to qualify for a mortgage? ...AnswerHi there and thank you for reaching out to the Canadalend Team with your inquiry.   The difference between a co-signer and a guarantor is that a co-signer is on the title and a guarantor is ...

How Many Co-Signers Can I Get on a Mortgage?

How many co-signers can I get on a mortgage?   I was wondering if there is a limit to how many co-signers I can get on a mortgage.   Will more co-signers help me with the odds of qualifying ...AnswerHi there,   Thank you for reaching out to the Canadalend Team with your inquiry.    No there is no limit on the number of co-signers you have on a mortgage. Still have additional questions? ...

Will I Lose My House if I File for Bankruptcy in Canada?

Will I lose my house if I file for bankruptcy in Canada?   I have not been successful in keeping my finances in check due to some unfortunate events. I think I will need to file for bankruptcy and ...AnswerHi there and thank you for reaching out to the Canadalend team with your inquiry.   If you have filed for bankruptcy in Canada, you won't necessarily lose your home --No.   Often times you can ...

Can I use my Home Equity to Buy a Second Home?

By CanadalendFAQ0 comments
Can I use my home equity to buy a second home?   I was thinking about buying a second home to maybe use as an investment opportunity. Is there anyway I can use my current home equity to purchase a ...AnswerHi there,   Thank you for reaching out to the Canadalend Team.   Yes ,you can use your home equity line of credit to go towards a down payment for a second home. Have more questions about home ...

What are the Costs of Refinancing a Mortgage in Toronto?

By CanadalendFAQ0 comments
What are the costs of refinancing a mortgage in Toronto?   I was hoping to get some more information regarding the costs associated with refinancing a mortgage in Toronto.   Are there extra ...AnswerHi there and thank you for reaching out to the Canadalend team with your inquiry.   Refinancing your mortgage is not for everyone, when refinancing your mortgage, it is important to take into consideration ...

Bank Won;t Give me a Mortgage Because I am Self-Employed

By CanadalendFAQ0 comments
Bank Won’t Give me a Mortgage Because I am Self Employed   I need help, I am having trouble getting a mortgage because I am self employed and the banks have rejected me as well because of this. ...AnswerHi there and thank you for reaching out to the canadalend team with your inquiry.   If the bank does not want to give you a mortgage because you are self employed,You can still get a mortgage through ...

Can I lower my Mortgage Interest Rate without Refinancing?

By CanadalendFAQ0 comments
Can I lower my Mortgage Interest Rate without Refinancing?   Hi team,   I was wondering if I could get some more information about lowering my mortgage interest rate. Is there any way of getting ...AnswerHi there and thank you for reaching out to the Canadalend team with your question.    The following ways are how you could potentially reduce your interest rate with your financial institution, ...

Can I use a Home Equity Line of Credit to Pay off my Mortgage?

By CanadalendFAQ1 comments
Can I use a Home Equity Line of Credit to Pay off my Mortgage?   I have been reading a lot of mixed things about home equity lines of credit, I have heard of ways to use this as an option to pay off ...AnswerHello and Thank you for your Question.   A home equity loan can be used to pay off an existing, or first, mortgage.   Some home equity mortgages have low or no ...

Can I Qualify for a Mortgage in Toronto if my Spouse has Had Bad Credit?

By CanadalendFAQ1 comments
Can I qualify for a Mortgage in Toronto if my spouse has bad credit?   Hello Canadalend team,   I noticed that many people have been asking interesting questions about their own financial situations ...AnswerHi there and Thank You for contacting the Candalend team.    Yes of course, you can qualify for a mortgage if you spouse has bad credit, it may not be with a financial institution, but you will ...

Reviews

4 member reviews
    By Mark
    Thank you Canadalend for helping me with mortgage approval advice.
    so hellpful with their responses to mortgage related questions
    The Canadalend team helped me when I had no where else to turn. Thank you so much
    By Flux
    Very Helpful financing and lending information!
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