5-Yr Fixed Rate 2.94%, Variable 2.35% o.a.c View More Rates
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Request your confidential free home line or equity loan quote online or call us direct at (866) 842-4711. Serving clients in Windsor and across Ontario.
Home Equity Mortgages (also known as second mortgages) are secured by the equity that you have in your property. A Unimor Capital equity loan or home line of credit (HELOC) can offer you a lower interest rate as compared to other types of loans on the market. We offer an array of equity loan options to meet your unique needs:
Provides a secure interest rate that stays the same for the entire length of your equity mortgage term. Read More
What is it? A fixed-rate equity loan / second is a fully amortizing loan where your interest rate remains the same through the term, as opposed to variable rate equity loans where your interest rate may “float” (based on economic conditions).
Who is it for? Ideal when you need a specific amount for a one-time purpose, such as home improvement or debt consolidation and you are more comfortable with the stability and security of paying a fixed amount every month, a fixed rate equity mortgage through Unimor may be right for you.
Compare historical savings between fixed and variable rate.
A favourable choice for many Unimor clients. The past 30 years indicate a variable rate equity loan is a better loan option than a fixed rate by more than 80% of the time. Read More
What is it?A variable-rate home equity loan / second interest rate may periodically adjust based on prime lending rate. This adjustment can affect the cost of borrowing (increase or decrease) on your loan. Long-term, variable rates have proven to be the least expensive.
Home Line of Credit (HELOC):
Home equity lines of credit are flexible loans and help you make the most of the equity in your home. Read More
What is It? With a home line of credit, you only borrow what you need (up to the credit limit) and pay the interest only during the ‘draw’ period the lender sets, typically 5-15 years. Once the draw period ends and you enter the ‘repayment’ period you then begin paying the principal and interest back. Some people choose to refinance it all into one mortgage payment, depending on the lender’s guidelines. A thought to remember about home equity lines of credit is that the interest rate can fluctuate during the life of the HELOC.
Who is it for?Ideal when you want the option to have quick access to the equity in your home with flexible repayment options and are comfortable with changing rates. At Unimor, we can help you with the process, just email us or request a quote.
We offer refinance loans with as little as 20% equity, straightforward terms and conditions. Read More
Short Term Second Equity Loan:
Take advantage of current low rates, and protect yourself from future rate jumps by splitting your mortgage into short and long term rates. Read More
What is It? Maintain your current long term mortgage and rate while taking out your equity (up to 80% LTV) as a short term second mortgage with an even lower interest rate. Short term equity loans are usually 6 months to 5 years and rates depend on the term chosen.
Who is it for? If you want to borrow the equity in your home and pay it back fast with a low rate then a short term equity loan is for you.
75% Home Equity Loan:
Take out 75% of the value of your home minus the balance owing, leaving 25% of the value in equity. Read More
What is it? This home equity loan allows you to borrow up to 75% LTV in equity. For example, if you owe $50,000 on a $100,000 mortgage, you can take $25,000 of the equity out in cash at competitive rates.
Who is it for? This home equity loan is perfect for those who want to take out some of the equity in their home but not all, leaving 25% equity as peace of mind.
Up To 25 Year Amortization:
A longer amortization offers the longest amount of time to completely pay off your home equity loan The main benefit is a smaller monthly equity payment than with a shorter amortization. Read More
Ideal if your goal is a lower monthly payment. A Unimor 25 year home equity loan can be what you are looking for. Take longer to payoff your equity loan and bring down your monthly payment, we can help you decide if a 25 year amortization loan makes sense for you.
Interest Only Home Equity Loans or Line of Credit
When you want lower payments up front and a fixed rate for the life of the loan which are normally for shorter periods. Or an equity line of credit with low rates and pay only the interest on the amount you draw. Read More
What is it? An interest-only equity loan is a loan set for a term, wherein the borrower pays only the interest on the principal balance, but with the principal balance unchanged. At the end of the term the borrower may continue the interest-only equity loan, pay the principal, or (with some lenders) convert the loan to a principal and interest payment (or amortized) loan at his/her option.
As an interest only equity line of credit you may draw on as you need it with the same repayment options as an interest only loan. Payment amounts will change depending on how much you draw, lenders.
Who is it for? If your goal is a smaller payment with set rate until the term is up or to pay only on what you draw, a Unimor interest only equity loan or line of credit may be right for you.
Business For Self (BFS):
Equity loan options for self-employed borrowers who can explain and prove capacity to repay without traditional GDS/TDS requirements. Read More
What is it? An equity loan designed for those who are self employed or a business owner. Instead of T4’s our lenders look at your credit history and 3 year’s financial statements, notice of assessments and/or tax returns… or combination of. Without having to fit into traditional GDS/TDS guidelines, self employed borrowers have a better option when taking out their equity.
Who is it for? For business owners or self employed individuals who are able to present financial history by either 3 years notice of assessments, tax returns and/or financial statements. Contact us today, we can help you decide if this is the option for you. If you are unable to prove income and are self employed, a No Income Verification Equity Loan might be better for you.
Open and Closed Equity Loans
An open equity loan is designed for those who are looking to payoff their mortgage sooner without... Read More
…penalties with a low rate, within lender`s guidelines. Opposite an open equity loan is a closed equity loan, which is designed for those who are happy to pay a set payment over the term of the loan and in turn receive an even lower rate then an open equity loan.
Not sure which loan is right for you? Request your confidential free quote online or call us direct at (866) 842-4711 – Ontario wide toll free.
Move To A Lower Rate
It’s still an excellent time for you to change the term of your current loan and move to a lower interest rate. We can help you transfer your current mortgage to a shorter term and lower interest rate, or blend two mortgages together into one lower rate mortgage and save you money. Today’s equity and line of credit rates in Ontario are highly competitive. We help you put less money toward interest and keep more of it in your pocket.
Consolidate High Interest Debt
Avoid the negative financial bounce that high interest credit cards can cause. The added interest expense could begin to play havoc on your monthly budget. A lower interest cash out home equity loan can help pay down a pocketful of credit cards & other bills, and improve your monthly cash flow. Make one low monthly payment instead of several, and pay less overall each month. Tell me more.
Complete Home Renovations
What kind of shape is your home in? More and more homeowners are opting to renovate their existing home instead of purchasing another. Whether you need new siding, an extra bedroom, or even a new heating system, a home equity loan can be a sensible solution. By increasing your monthly cash flow, you’ll have money to make repairs or home improvements and increase the value of your home.
Fund University or College Programs
If your job disappears, how well positioned are you to quickly land on your feet and find a new job? Taking a class – or even earning a degree – can help offset the sting that a layoff could bring, especially if you’re able to secure a better-paying job. A home equity loan can put the cash you’ll need to pursue a new career into your hands.
Pay Unexpected Medical Expenses
Life is as unpredictable as the economy, and sometimes unforeseen medical needs crop up – from emergency care to specialized treatments. If your insurance has limitations that can put you at financial risk, a home equity loan may offer a quick solution.
Increase Rental Income
Leverage the equity in your rental property to buy an additional property and expand your investment portfolio. By increasing your monthly cash flow, you’ll have more money to make necessary repairs or improvements and increase the value of your investment property.
Unsure? We are here to help. Request your free quote today, or call us toll free.
Home Equity Mortgages (also known as second mortgages) are secured by the equity that you have in your property. Your first (original) mortgage probably has a term of 25 years, while some equity loans have a term of 5 to 10 years.
There are many reasons to consider a home equity loan, but some of the more common are debt consolidation, home improvements, and paying for school tuition.
In many cases, home equity loan products can offer you a lower interest rate as compared to other types of loans on the market. When you request a quote, you may see offers for both home equity mortgages and secured lines of credit to meet your equity needs.
For over 30 years Unimor has helped our clients achieve many goals when applying for a home equity loan.
No Hidden Fees or Commitment to Worry About
Unlike many other mortgage companies you won’t find any fees secretly buried in your home equity loan. We believe in full transparency and disclosure throughout the entire process. We want you to feel completely confident about your choice. At Unimor there is no commitment, obligation, or cost for a mortgage quote. Our role is to provide you with details about rates, terms, related costs, and the best possible advice for your situation, but ultimately YOU decide if you are comfortable accepting a lenders offer. If you choose to not move forward, there is no cost to you whatsoever. Read more…
Access To Surprisingly Low Interest Rates
Millions of dollars in in home equity loans have been processed through Unimor Capital. Why is this important? Because it is this volume that helps ensure our lenders offer you some of the most competitive home equity rates on the market! Think of it as buying in bulk – the more we buy, the more you save.
An Array of Equity Lending Options
When you request a personalized equity quote, we immediately screen rates and promotions of dozens of different home line of credit Ontario lending partners, including chartered banks, trust companies, credit unions, non traditional lenders, or private lenders, to find you the lowest interest rate for your situation. With dozens of lending products at your disposal, we’re confident we can provide you with a home equity quote you will smile about.
According to many past clients we close our home equity loans in half the time as other brokerages they’ve worked with. We work tirelessly to make sure you get the best possible quote and your loan closed in as short a time as possible! That is our unwavering commitment to you!
With thousands of clients and over 500 million financed since 1980, Unimor has the experience to get you approved at the lowest rate for your situation. You can feel confident knowing we will handle every detail of your equity loan efficiently from start to close.
We keep you informed and feeling comfortable about the details every step of the way!
Finding the right equity loan can be stressful. From the time you request your free mortgage quote, to the day you close on your loan, we make the entire process as convenient, easy, and as low stress as possible. Bottom line, we know you’re busy, so we cut the red tape out as much as possible.
Ontario Wide Service
For clients at a distance, we’ve streamlined the entire mortgage application process. Through phone, fax, and email, all paperwork is efficiently and securely handled in minimal time.
Trusted Experts in What We Do
For years we’ve been helping people like you find the perfect equity loan. We are members of IMBA – (Independent Mortgage Brokers Association of Ontario), which sets the “gold standard” in ethics and knowledge of its associates. We are also a member of good standing with the Better Business Bureau. More about us
The content provided on this website is presented or compiled for your convenience and is provided for informational purposes only. The information provided on this website should not be construed as offering legal, financial or other advice to be relied on by the reader to make or refrain from making any decision or to take any action. Please consult us first before making any decisions. Although we make every effort to ensure accurate mortgage interest rates on Mortgage Approval Help.ca, rates are subject to change without notice at any time. Some rates may be subject to minimum credit score, loan amount and may only be available certain lending areas. Cash back mortgage Ontario residents only. Unimor Capital is a Windsor mortgage broker.