Financial Independence Retire Early (F.I.R.E)
Anyone who has ever dreamed of financial independence, without having to wait for a pension to kick into, should know about F.I.R.E
After being in business for 50 years, Alpine Credits has plenty of experience in lending, home equity products, and debt consolidation solutions. They offer a ton of different loan types and other financing options. With their speedy approval times and short waiting periods, this alternative to the banks is a solid ally for any Canadian homeowner or borrower to have on their side.
As mentioned, the main product that Alpine Credits offers is the home equity loan. Depending on how much equity you have and how much money you want to borrow, your loan could add up to a sizable sum. Therefore, the approval process can be a bit more complicated and more strict than with the average personal loan or credit card.
Overall, the conditions of your home equity loan will hinge on your ability to keep up with your future payments. The stronger your finances are and the more equity you have, the easier it will be to get approved for a large loan with an adjustable repayment term and a low-interest rate.
Fortunately, unlike banks and credit unions, Alpine Credits seems to be less restrictive with their potential borrowers. The requirements above are just some of the standard qualifications you’ll often need when applying for a home equity loan. For instance, although it might help you earn a better interest rate, a strong credit score isn’t as important for approval as it would be with other mortgage-based lenders.
Nevertheless, you may be asked to fill out various personal and financial information when you apply with Alpine Credits, including but not limited to your:
While the application process can be completed online within a few minutes, you can also call Alpine Credits at 1-800-587-2161 to speak with a customer representative. If you qualify, you should be notified in as little as 24-hours and receive the funds via direct deposit.
Remember, whether or not you’re approved for financing will depend greatly upon the amount of equity you have in your home. The more real estate value your property has and the more of your primary mortgage you pay down, the more home equity you have.
When you apply with Alpine Credits, your home equity will act as loan security, otherwise known as collateral, to protect the lender if you default on your payment plan. If you already have an existing mortgage on your property, the home equity loan will become your “second” mortgage, as it’s commonly known. Because of the collateral involved, the loan will then be “secured”, which can allow for better conditions.
Other features you may discover with a home equity loan from Alpine Credits:
Every loan product is different. This is particularly true for home equity loans, where there are a few extra factors involved, such as the value of your property and the size of your mortgage. The associated costs could go up and down depending on a number of factors.
If you apply for a home equity loan with Alpine Credits, here are some of the basic costs that you may encounter and must factor into your home budget:
Remember, every lender and loan product has its upsides and downsides. It’s important to weigh these benefits and drawbacks, as they can have a drastic positive or negative impact on your finances. While Alpine Credits has been around for over 50 years, it’s still a good idea to look at the pros and cons of their institution:
Alpine Credits - Frequently Asked Questions
What is home equity and how is it accumulated?
In Canada, you can normally apply for a home equity loan when you have 20% equity or more. Most mortgage lenders allow you to borrow up to 80% of your available equity. Be sure to ask Alpine Credits about their borrowing policies before you apply with them. What expenses can I pay for with a home equity loan?
Loan Range | Rate & Terms | Product Details | Eligibility | Requirements & Documents | |
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Home Equity Loan | - |
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Anyone who has ever dreamed of financial independence, without having to wait for a pension to kick into, should know about F.I.R.E
All consultations and conversations with Loans Canada and its partners are confidential and risk-free. Speak with a trusted specialist today and see how we can help you achieve your financial goals faster. Loans Canada and its partners will never ask you for an upfront fee, deposit or insurance payments on a loan.