I was beyond thrilled at how quickly everything came together for us - Stalin was was on the ball 100%!
Nima Shadman at Canadalend got us the mortgage we needed and with a great rate. When a small issue came up 2 days before closing he got in touch with the bank and had the issue resolved quickly so that we still closed on time without any further problems. He was always available and worked hard to get us what we were looking for! I would highly recommend Nima and Canadalend.
As one of Ontario's premier boutique law firms we have had the benefit of working with many mortgage brokerages throughout the decades, however, we can say with the upmost confidence that Canadalend's services far surpass their competition. Bob Aggarwal and his team always deliver to their clients everything promised in addition to quality service. At the Top Law Firm we pride ourselves with only working with the top of any industry, that's why we are pleased to have Canadalend as one of our 5 star associates. Keep up the good work and thank you for providing our clients with the service and support they have now come to expect. You guys truly set the bar high when it comes to your industry standard.
Stalin was amazing. Very well organized and solution-oriented with excellent communication skills the whole way through. Highly recommend !
CanadaLend has provided our firm with exceptional customer service and are always available to work on a solution for every situation. Bob, Stalin, Vivian and the rest of the team always display a high degree of professionalism and are very knowledgeable about the real estate and mortgage industry. When you work with CanadaLend, you know you are being taken care of and are in great hands. Highly Recommended!
At Canadalend, we believe that you should have access to your money whenever you need it, regardless of your past or current credit history. We help by finding you the lowest rates available, as well as providing the
support you need in order to achieve your financial or real estate goals.
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 your home increases over time.
For example, if your home is worth $350,000 and you still owe $250,000 on your current mortgage, you would have built up $100,000 in home equity.You have worked hard to grow the equity in your home so why not use it however you'd like?
There are two types of home equity loans, a fixed-term loan and an line of credit - also known as a HELOC.
A home equity loan is a one-time lump sum of money that slowly gets paid back monthly with a fixed interest rate. A home equity line of credit can provide you with access to funds as you need them, in which you pay back like a credit card.
Fixed-term equity loans include Second and Third mortgages, Refinanced mortgages, Reverse (or Chip) mortgages, and Prepaid.
Although interest rates on a home equity loan are higher than on a First mortgage, they are typically much lower than a credit card.
Paired with the fact that the interest paid on mortgage loans is tax-deductible, as well as some products offering interest-only payments, it is easy to see why more Canadians are switching to Canadalend for all their mortgage needs.