Loans Canada Launches Free Credit Score Portal And Is Recognized As One Of Canada’s Top Growing Companies
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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.
An Alpine home equity loan will typically be deposited into your account as a lump sum of cash. You would then repay the borrowed amount through divided installments over multiple years, plus interest and fees. During that time, you’re free to spend the money on whatever you want. That said, a home equity loan is a serious financial commitment. As such, it’s best if you only use the money for expenses that are truly important, including but not restricted to:
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.
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.
Simply put, your home equity is the total real estate value of your home, minus the balance that remains on your primary mortgage (if any). You can also accumulate equity by adding value to your home through additions, renovations, or other improvements. Your total equity may even rise if your neighbourhood becomes a more desirable place to live.
Here’s a basic example of how to calculate your home equity:
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.
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, 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
How long does Alpine take to approve a borrower?
How do payments work with Alpine Credits?
What is home equity?
What is a second mortgage?
Loan Range | Rate & Terms | Product Details | Eligibility | Requirements & Documents | |
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Home Equity Loan |
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Alpine Credits is a great company! They are highly professional and carefully comply with laws and regulations. This made me feel very secure. Alvir A... read more
Thanks Bev we really appreciate all you done and making it so easy.
I want to thank Alvir Alipio and his team for excellent customer service. He was very helpful and courteous and with his help had my money before the ... read more
I would HIGHLY recommend Alpine to anyone. The process was so quick, efficient and painless, and everyone I dealt with was absolutely wonderful. I sti... read more
I would highly recommend Alpine Credits, great experience from start to finish.
Alpine Credits were very easy to work with, gave options to choose from. Alvir, the rep I dealt with was excellent, Alpine Credits is one of the best ... read more
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Loans Canada is pleased to announce it placed No. 131 on the 2022 Report on Business ranking of Canada’s Top Growing Companies.
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