How It Works: The Process
The loan process was fast and efficient. We borrowed enough from our home equity to consolidate debts, lower the interest payments; and finish some home renovations. Keep up the excellent work.
Muhamad S., Mississauga, Ontario
Our Process
Step 1 - Get an approval online for the money you need to succeed. Money is available for home renovation, debt consolidation,  education, and more...
Step 2 - A Capital Direct representative will contact you within 2 business days.
Step 2 - A Capital Direct representative will contact you within 2 business days.
Step 3 - Capital Direct will help you determine the equity value of your home. This will confirm the amount of eligible equity that you have.
Receive your funds and achieve your goals.Step 5 - Your home equity loan documents will be registered with the provincial titles office, fire insurance and prior encumbrances will be confirmed.Step 4 - We'll prepare documents for you to sign once the evaluation is complete and you've OK'd our offer.
Five steps. One hour of your time. Get Back to Life.

The entire process takes place in a week to ten days. The process above is for illustrative purposes only. It is based on the most common scenarios, however each situation is unique and processing times may vary. The location of the property and other factors may shorten or lengthen average processing times. Not all applicants will be approved, based on equity and other factors. E&OE. OAC.

What Does Great Service Feel Like?

Last December, my oven wasn’t working quite right. One of the gas burners was taking long to light, and I could smell gas when I started it. I called a bunch of places, and most took several minutes before determining that they couldn’t service the brand of stove I have. Eventually, one pointed me to one of the few places that could help - Priority Appliance Service. When I called them, their service line guy said “We are really busy in December” – so I was expecting a "sorry buddy, you should have called in November" - but then he said “December’s when we get the most requests to service stoves. Because of that, we’ve blocked off several days to ensure we can get everyone helped out.” Wow. Since someone needed to be home, I booked a Saturday. Their policy was to phone in the morning, and at that time the service technician would know his schedule. However, it was the same day we were having a birthday party for our daughter, so I wasn’t too flexible with my availability. So, he asked what time the birthday party was, and said they’d figure out how to work around it. A few days later, I called back to confirm the appointment. They confirmed the time, and then they said “have a great birthday party with your daughter” - I was pretty surprised by that. Then, day of appointment, the technician showed up, on time, and got the job done. He was friendly and efficient, and offered me some advice on how to make my fridge last longer (even though he wasn’t there to service the fridge). I paid him, and as he left, he again said ‘happy birthday to your daughter’.

Last weekend, I went to the local tire shop to buy 4 new tires for my car – a purchase from $500 - $1000, depending on the product I select. I’d gone there before to fix a flat tire and had received good service. Not so last Saturday. I walked in, and there were 3 guys at the counter, talking to each other. I walked up, stood about 6 feet away from them, and waited for them to start talking to me.. But they didn’t. So, I looked at some tires, then wandered past the counter again. Still, no response. So, I walked past the counter again, and left the store. Talk about lost opportunity for an easy sale.

So, I drove down to Fountain Tire, a few blocks away. I walked in, and there was nobody at the counter. About a minute later, a guy walked in from the back (garage area), and he apologized for the delay – 2 of his staff called in sick, so he had to service vehicles and manage the front desk himself. He asked me a few questions to figure out what I wanted, he confirmed what he had in stock, calculated the price, and told me how long it would take to get the tires installed. Within probably 3 minutes he made a $665 sale. I was in Fountain Tire for almost the exact same time I was in the other shop. I asked for him to install the tires, and I went to Starbucks with a book to read for an hour. When I returned, he was just finishing up – exactly when he said he would be. I paid my bill, hopped in my car, and drove off, and felt good about spending $665.

So, why am I telling you this? Two reasons: One – it seems that great service comes when you least expect it. Two – the service I got from Sophia & Capital Direct has been the same. She made the process of getting our new mortgage easy, and she saved us time by letting us know exactly what info we needed to provide. My wife now says things like “remember when Sophia said....” (thanks to Sophia – now I lose all the arguments!).

What is home equity?

Your home equity is the key to your approval. It's the portion of your home that is yours - free and clear! You can access this equity through Capital Direct even if you haven't entirely paid off your existing bank mortgage. We don't rely exclusively on credit history or income.

Calculation: Take the value of your home minus the amount you owe on your mortgage.

For example:
  Current value of your home  $250,000
  Outstanding mortgage debt -$100,000
  YOUR CURRENT EQUITY  $150,000

Equity = Borrowing Power. To ensure that you maintain your borrowing power, it's important to keep an eye on the housing market and real estate prices.

How home equity financing works?

Most lenders require "collateral" when lending money. In the case of a home equity loan , the equity in your home is offered as collateral.

We make the home equity loan process simple an quick. And we do all the legwork for you. Click here to discover how the home equity loan process works.

"Lend-able equity" means less risk for lenders, and better loan terms for you. In fact it's the best financing deal you can get!

Lend-able equity is primarily based on the equity in your home, but also takes into account factors such as:

  • Ability to pay (affordability)
  • How long you've lived in your home
  • Proximity to urban centers, employment or recreational destinations

Your Capital Direct representative will explain which factors apply to your situation. And unlike banks, your credit rating is not the primary factor in your approval. We know that people who have accumulated equity in their homes have done so through hard work and a track record of making payments to their lender. This is all you need to get a home equity loan with Capital Direct. Use the equity in your home to get approved now!.

Advantages of Using Your Home Equity

The main advantage to using your home equity is to advance your future and achieve your goals.

You can leverage the equity in your home to:

In a nutshell, whether your goals are financial or personal, you can use the equity in your home to make it all happen.