Why Capital Direct for Mortgage and Home Equity Financing?
At Capital Direct Lending, we can help you move the money built up in your home... into other areas of your life, sometimes without the necessity of refinancing your mortgage.
Over the years, your home has appreciated in value and you have diligently paid down your mortgage. A home equity loan enables you to turn that appreciation into cash. Use the money to consolidate high-interest debt, buy a business or property, renovate your home to increase its value, pay for education or medical expenses, or simply put money away for a rainy day!
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A home equity loan can help you simplify, enhance and change your life! Each month, we lend over $5,000,000 of our own funds to homeowners. With offices throughout Canada, we provide fast, efficient and reliable service so you get financing on your terms! Plus we manage the whole process on your behalf. We offer:
- Free, no-obligation consultations
- No-hassle home equity loan and mortgage applications online
- Competitive interest rates
- Flexible terms
- Approval decisions within 2 business days
- Money in your hands within 5 business days of successful document completion
And if you are looking to buy a home, we can help you too! Our mortgage brokers work with Canada’s leading lenders to match you with the best mortgage purchase options.
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Commonly Asked Questions
Why should I use a mortgage broker?
Generally speaking, mortgage brokers have access to more financing options than the banks do. But Capital Direct mortgage brokers in Halifax are just a little different. Our brokers in Halifax lend out our own funds to homeowners. This enables us to save you time and money by providing approval decisions within 2 business days, and putting money in your pocket as early as 5 business days of successful document completion. We are also able to offer competitive interest rates with flexible terms tailored to your specific needs.
Are you independent of the 'Big Banks' and other lenders?
Yes, at Capital Direct Lending we lend our own funds, however we have established strong relationships with some of Canada's largest lenders so that we can provide clients with mortgage purchase options.
Can Capital Direct's mortgage expertise save me money?
Yes we can save you both time and money. Since we lend our own funds, our mortgage brokers in Halifax offer competitive interest rates with flexible terms tailored to your specific needs. And if you are looking to buy a home, our mortgage brokers in Halifax have access to a Canada's leading lenders to match you with the best mortgage purchase options.
How can I qualify for a home equity loan?
To qualify, you must be a homeowner and have a sufficient amount of equity in your home. A Capital Direct mortgage broker will determine how much you can borrow by reviewing your mortgage details, assessed property value, and the amount you need to borrow. We base approvals on the equity value of your home rather than your credit score!
What is the interest rate?
There are two types of mortgage interest rates: variable and fixed. The interest rate on a mortgage or home equity loan is dependent on a number of factors. Click here to view current interest rates.
What closing costs are charged on mortgage or home equity loan?
The amount and type of services you need to pay for when applying for a mortgage or home equity loan, depends on the type of financing. You should expect to pay fees for legal services, appraisals, and home inspections. At Capital Direct, our mortgage brokers will outline all costs involved to you.
Can I lock in the interest rate, and what will it cost me?
Yes you can lock in an interest rate at any time. The primes lending rates and therefore mortgage rates have fluctuated greatly over the last year. You should ask your mortgage broker whether a variable or fixed rate is better for you, and when to lock-in your interest rates.
Is there a prepayment penalty on the home equity or mortgage loan?
Prepayments penalties vary depending on the lending institution and terms of the loan. Your Capital Direct mortgage broker will outline all the prepayment details for you.
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Halifax Fun Facts!
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Did you know?
Halifax was founded in 1749 as Chebucto!
St Paul's Church is the oldest Anglican church in Canada built in 1750.
The Halifax Gazette was the first newspaper in Canada founded in 1752.
Halifax is a sister city to Hakodate, Japan and Norfolk, Virginia.
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Money Saving Tip: Save on Heating Costs this Winter!
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During the chilly Halifax winters, it's natural to turn the heat back when you're sleeping or not at home, but turning it down too low can actually cost you more because the contents of the house have to be re-heated in addition to the air. Instead turn it down just 6 or 7 degrees at bedtime or when you're not at home.
And don't turn up your thermostat occasionally to heat up the house when you get home. It won't heat up any more quickly and will make your furnace work harder.
For other tips on energy savings and safeguarding your home this winter, visit www.cmhc.ca.
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Financial Tip: Convert your Mortgage Debt to Tax-Free Debt Over Time
Did you know that you could re-borrow a portion of each mortgage payment and invest the money in stocks or equity mutual funds?
The money you re-borrowed is now good debt: debt where interest payments are tax deductible. As you start to pay interest on the equities, you will generate tax returns, which can be used to pay off the mortgage more quickly. The added equity in your home allows you to borrow more, and grow your investment portfolio faster. The process creates an accelerating snowball effect. The result can be years taken off your mortgage with no increase in payments.
It's important to note here that you are incurring debt for the equities at the same rate as you are retiring debt for your home, so your debt level remains constant. Once your mortgage is paid off, you are still in debt, but the investment portfolio you've acquired balances your liability. It is essential that you consult an accountant or certified financial advisor if you want to follow this strategy.
" The result can be years taken off your mortgage with no increase in payments. “
For more tips, tricks and traps from Capital Direct, click here to visit the Tips & Strategies section.
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