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Our Services

Whether you’ve been declined by the bank or are looking to consolidate debt, there are many ways we can help you leverage your homes equity to get approved for a home equity loan or to secure a mortgage on your new purchase.

Declined by the Bank

Declined for a mortgage loan due to poor credit, servicing ratios, or self-employed income?

Looking for capital to cover a last-minute closing? Nobody likes being turned down by the bank. Especially when it comes at the cost of missing out on your dream home. We lend regardless of credit, ratios, new immigrant status, self-employed income, and more!

Renovate your home with a home equity loan

Examples of Home Improvements:

Basement Renovations
Kitchen Remodels
Addition of New Bedrooms and Bathrooms
New paint & Flooring Projects
Addition of a Deck or Pool


What if you could consolidate all debts into one lower payment?

Does it feel like debts just keep piling up? Are you someone with an ever-growing balance and feel like you have dug yourself into a hole you can't get out of? What if we told you there's a way you can consolidate all your high interest debts into one lower payment at a lower rate using the equity in your home.

Debt consolidation is the process of combining multiple debts into one. Instead of making multiple payments to multiple lenders or credit card issuers, you only pay one lender, ideally at a lower interest rate. Home equity loans are one of the options for debt consolidation. Below is a list of some examples:

Auto Loans
Credit Cards
Medical Debts
Personal Loans
Student Loans


New to Canada and Interested in buying a home?

New to Canada and considering purchasing a home? Majority of newcomers do not have a credit score or work history, which are two important factors in securing loans through traditional banks and lenders. At Custom Capital Lending, we consider all types of individuals. We can help you get qualified for a mortgage regardless of income or credit scenarios.


Gearing up for retirement?

A reverse mortgage is a loan that allows you to get money from your home equity without the need to sell. You can borrow up to 60% of the current value of your home.

In order to be eligible for a reverse mortgage, you must be a homeowner at least 55 years old. When you apply for a reverse mortgage, factors like where you live, your home's condition, type and appraised value will be considered. The home you are using to secure a reverse mortgage must be your primary residence. Meaning you've lived in the home for at least six months to a year.


Trying to fund a costly tuition?

Great news! You've recently received an acceptance letter in the mail for a great education. Everything seems great until you see the tuition costs. If you or your child is gearing up for education advancement but are hesitant about taking on the costly bill, a home equity loan may be the right option for you. Custom Capital Lending can help you access your home's equity to fund tuition costs.

FAQ

 

A credit loan from Custom Capital Lending only requires you to be a homeowner. We consider Home Equity Loans even if you have bruised credit, poor credit, bad credit, or are simply self-employed. If you own a home, we can help.

Credit ratings are designed to do one single thing – rank consumers based on their level of risk to a lender. However, the credit rating system is not perfect. The parameters of how credit is scored are very narrow – including factors such as if you pay your credit card bills on time, if you’re a homeowner, and if you’re employed. What credit ratings don’t take into account are mostly external factors. For example, you purposely don’t have credit cards to avoid taking on debt or that you are successfully self-employed. All factors that make you more likely to pay back your loan on time.

As a home equity lender, the predominant criteria we consider when approving a home equity loan is the equity you have in your home, meaning you can definitely obtain a home equity loan if you are self-employed. Typically, we can approve a home equity loan application within 24 hours regardless of your credit, age, or income history.

You can use a home equity loan for anything. Common uses include debt consolidation (paying off high-interest credit card debt), home improvements, paying for an education (expenses/tuition), investments, starting a business or growing an existing business, taking a dream vacation, or providing you with additional cash flow for any temporary situation that may arise. You can also use a home equity loan to pay for medical emergencies or as a business investment to buy another piece of property.

Over time the Ontario real estate market continues to see increases in property values in most residential properties. Home equity loans allow you to access the equity in your home.

Value of your Home* – Remaining Mortgage Balance = Your Home Equity