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Home Equity Loans in Kitchener

About Kitchener

Kitchener is a city in the Regional Municipality of Waterloo, Ontario. Located approximately 100 km (62 mi) west of Toronto, Kitchener is the regional seat. It was called the Town of Berlin from 1854 until 1912 and the City of Berlin from 1912 until 1916.

The City of Kitchener covers an area of 136.86 square kilometres and had a population of 233,222 at the time of the 2016 Census. The Kitchener metropolitan area, which includes the smaller, neighbouring cities of Waterloo to the north and Cambridge to the south, has 523,894 people, making it the tenth largest Census Metropolitan Area (CMA) in Canada and the fourth largest CMA in Ontario.

Kitchener and Waterloo are considered “twin cities” which are often referred to jointly as “Kitchener–Waterloo” (K–W), although they have separate municipal governments. Including Cambridge, the three cities are known as “the Tri-Cities”. All are part of the Regional Municipality of Waterloo, which was created in 1973, when it replaced Waterloo County, which had been created in 1853.

Home Equity Loan Kitchener

Are you a homeowner in need of an emergency loan? Are you overwhelmed by credit card debt? Are you trying to purchase your first home? Then you can get fast approval for a home equity loan in Kitchener! We are one of Canada’s largest mortgage brokers with access to more than 400 private and institutional lenders. We specialize in working with people who have bad credit, no credit, and people who are self-employed, and unemployed.

Types of Home Equity Loans in Kitchener:

Borrowers who are looking for a home equity loan in Kitchener can take advantage of a few different types, these include: Home equity line of credit, complete refinancing, or a home equity mortgage. We can advise and assist you with these different types of home equity loans in Kitchener.

Home Equity Line of Credit:

Commonly referred to as a HELOC, a home equity line of credit is a credit offered by banks or credit unions. The interest rate on a HELOC is usually low, but it is applied to your line of credit on a daily basis. Typically, the interest rate is tied to the prime bank rate and fluctuates based on the bank rate. Interest rates do fluctuate, and if they go up, it will be a wise choice to switch the debt to a fixed rate loan or mortgage.

Home Equity Loan in Kitchener:

A home equity loan in Kitchener is usually a fixed rate loan secured as a second or third mortgage against a property. These types of loans are beneficial if you are wanting to consolidate debt, need money for expenses, finance a new home, or complete a renovation project in your home or on your property. A home equity loan in Kitchener can also be useful if you are trying to pay taxes, property tax bills, or mortgage arrears.

Refinance:

If you are locked into higher interest rates, it can be beneficial to completely refinance your loans or your mortgage. Our team can advise and assist you with this process.

If you would like more information about how a home equity loan in Kitchener, we can benefit you, feel free to give us a call today and speak to one of our mortgage broker professionals today!