The equity in your home has great power.

Are you looking to consolidate debt or find the money to pay for unexpected expenses? Have you ever considered using the equity in your home? At The Home Mortgage Centre, we offer home equity loans to help you finance major expenses.

Why use the equity in your home?

It’s convenient. If you are approved for a home equity loan, or home equity line of credit, you can access funds through direct payment purchases using a debit card, cheque or cash withdrawal. Equity loans enable you to have financial freedom–you will only pay principal and interest on the funds you use.

Other potential advantages to using the equity in your home include:

  • Lower monthly payments – interest rates on home equity loans are usually lower than personal loans or credit cards.
  • Tax benefits – the interest on your loan.
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What is a home equity loan?

It’s reliable. Secured by your home, a home equity loan allows you to access a portion of your home’s value for monthly payments and a fixed interest rate.

How can you use the funds from a home equity loan?

Any way you see fit. Whether you want to repair and remodel your home, buy a car, pay for education, consolidate debt, or fulfill your dreams and travel, the equity in your home can be used for any purchase or expense.

Your home has equity that builds over time, and you can leverage that equity to take out a second mortgage on your property

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What can second mortgage funds be used for?

The money you borrow through a second mortgage can be used in many ways:

  • To consolidate outstanding debt from other loans/credit cards
  • To finance home repairs or a renovation
  • To pay for education for yourself or a child

Why get a second mortgage?

Usually, the interest rate on a second mortgage is lower than the rate you would have on a credit card, which will save you money in interest in the long run. And, a mortgage will typically offer you more time to pay the money back than other options.

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Your First Mortgage

It’s a big decision, you need the professionals. We’ll unlock the best mortgage for you.

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Refinance Your Debt

We’ll help you refinance your home and unlock cash-flow with the the best mortgage for you.

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Second Mortgages and Home Equity Loans

Your home has equity that builds over time, and you can leverage that equity to take out a second mortgage on your property.

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Income and Credit Issues

Credit Issues? Income Issues? You Can Still Own a Home. You have dreams of owning your own home but don’t have the best credit rating—is home ownership possible?

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St. John's Office

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  • Ian Murray

    St. John's

    Ian’s 40+ years in consumer mortgages and seven as Area Manager for a national mortgage insurance...

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  • Terry Short

    St. John's

    Terry has been active in the consumer lending industry for over 35 years and he has been in the...

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  • Madeline Power

    St. John's

    Madeline has been in the consumer banking and lending industry for almost 37 years, with over 18...

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  • David Hynes

    St. John's

    With almost 20 years’ experience in the mortgage industry, David is one of the most seasoned and...

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  • Brad Payne

    St. John's

    Brad has joined The Home Mortgage Centre after 18 years with a major bank, of which, 16 years in...

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  • Jason Hopkins

    St. John's

    Real Estate has been my Life from appraising, selling, title insuring to mortgage origination. ...

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  • Martha Farrell

    St. John's

    Martha has been in the lending profession for more than 25 years, many of those with major chartered...

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  • Kelly Murray

    St. John's

    Kelly began with The Home Mortgage Centre in 2002. Since then she progressed to become our Business...

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  • Glenn Kane

    St. John's

    Glenn has been active in the consumer lending and insurance industry for more than 40 years. His...

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Clarenville Office

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  • Annette Murphy

    Clarenville and Conception Bay North area

    Annette has been self-employed in the real estate and retail sectors for many years. From her experiences,...

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Springdale Office

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