Equity Lending – Can It Help?

Loan officer signing approval based on equity

Worried you won’t get mortgage approval because of your income or bad credit? There are alternative approaches you can take—and equity lending may be one option.

What is equity lending?

  • Equity lending is a mortgage approval based primarily on the equity in your home
  • The lender is less concerned about your credit or income
  • Equity lenders will go up to 80% of the value of your home
  • Equity lenders will charge more than your bank

What can equity lenders help with?

  • 2nd mortgages
  • paying off high-interest debt
  • construction / renovation financing
  • buying investment properties
  • starting a business

What else should I know?

  • Equity lending is on a case-by-case basis
  • First mortgages start at 7.25%
  • 2nd mortgages start at 8.5%