Make Your Home Dreams a Reality and Upgrade Your Home with a Home Improvement Mortgage, Get Affordable Funding for Your Next Renovation Project. Get in touch with us!
Find My RateReach out to us for any mortgage need.
The rate of interest for a home improvement loan is usually the same as a home loan making it a sound financial alternative.
With only a few essential documents required to get the loan approved, the time taken to process is immediate.
At Mortgage Loan Ontario, we can connect you with various lenders ensuring you have a plethora of mortgage options to choose from.
We all know that homes that have been renovated sell for a much higher price. The rising cost of labor, tools, and supplies adds up to the renovations. When you are searching for a mortgage, keep in mind the equity available in your house, the market value of the property, and your current financial situation. All these factors play a vital role when it comes to taking out a mortgage for home improvement.
If you are purchasing a property that requires work, consider applying for purchase plus a renovation mortgage. This loan will allow the borrower to complete the work, including covering the costs. However, you will need to get an estimate on how much the renovation would cost.
To help you make a well-informed decision, contact Mortgage Loan Ontario today to apply for home improvement mortgages in Ottawa.
You can secure a home renovation by using the built-up equity in your home as collateral. If you are a borrower that has a good credit history, you can take out a second mortgage that lets you undertake home renovations. If your credit score is not the greatest, you can take out a private mortgage, where a lump sum is lent to the borrower for repairs and improvements. However, the interest rate will be high.
Choosing Mortgage Loan Ontario to help secure your home improvement loan is a sound financial decision, as our expert team of brokers will help you choose the right loan, including securing the best rates and terms. Below mentioned are the benefits of working with our agents and brokers:
Top-quality financial adviceA lot of first-time homebuyers tend to overestimate how much they can afford. They may omit certain issues like taxes, maintenance costs etc.
Negotiate on your behalfWe have a sound relationship with several lenders in Ottawa. Our brokers and agents will negotiate for better rates and terms.
Monitoring the entire process It takes a lot of time and patience to purchase a house. It can take up to weeks or months, as the house stays in escrow. Our brokers will monitor the entire process and provide timely updates on any developments.
Poor credit If you have a bad credit score, it can be challenging to secure a home improvement loan, but not impossible. Our brokers have the experience to find the right mortgage to suit your needs and financial situation.
When it comes to securing the best home improvement loans in Ottawa, there is only one name you can rely on – Mortgage Loan Ontario.
Secure a home renovation loan today by giving us a call today at +1 416-262-8937
There are several financing options when it comes to property renovations. Below mentioned are some types of mortgages that are ideal for home improvements:
Personal loanA personal loan has a lower interest rate than a credit card. You can repay it with regular payments over a set period, which is usually anywhere between 1 to 5 years.
Personal line of creditIf your home renovation project is long-term, a personal line of credit will help you access funds when you need them. The best part; you will only pay interest on the amount you use. The interest rates for a personal line of credit are lower than for a credit card.
Home equity loan You can secure the loan by using the built-up equity in your home. It can be usually 80% of the property value.
Mortgage refinancingIf you are looking to complete major renovations, refinancing has some pros. You can access a better interest rate and the repayment is spread over a long period.
At Mortgage Loan Ontario, we can help identify the right mortgage solution to finance all your home improvement costs like renovating a bathroom or basement, adding an extension to your property etc. Since renovations are costly, it can be difficult to save enough money to cover the costs.
Our several mortgage options will help you fund your renovation project at a competitive rate. For quick and fast approval on home improvement mortgages in Ottawa, please do not hesitate to get in touch with our expert brokers today to find out more details.
We can help secure the best interest rates for as low as 3.95% so you can focus on improving your property without hindering your long-term financial goals. Furthermore, you can also save a lot of money in the long run. Talk to our expert Team to get free Mortgage Consultation Call
See what our customers have to say about our services.
Gogi Luthra is a great mortgage broker! He was able to secure a good mortgage deal for me. He has a sound understanding of the market and the systems involved... I will definitely go back to him when need arises again and whole heartedly recommend him.
We had a great experience working with Gogi He is professional, reliable and very knowledgeable. He was able to answer all our questions at anytime of day and helped attain the best rate available.
I was new to Canada and was buying my first home. While banks insisted for a 20% down payment,...I am really impressed with his service and I highly recommend people to contact him for all their mortgage needs.
Our goal at Mortgage Loan Ontario is to provide access to all types mortgage solutions across ontario.
Lic#10845, Independently Owned & Operated
238 Britannia Rd E Mississauga, L4Z 1S6, Canada
+1 416-262-8937