Equity Mainly Matters: Your Comprehensive Guide for Home Equity Loans

Welcome to Equity Mainly Matters, where we stand as your steadfast ally in navigating the intricate landscape of home equity loans. Our mission is to guide homeowners in leveraging the equity in their homes to fulfill their financial aspirations. Let’s embark on a detailed exploration of home equity loans and the myriad ways we can assist you.

The World of Home Equity Loans


A home equity loan is a type of loan that allows homeowners to borrow against the equity in their homes. This financial tool can be a gateway to achieving a range of financial objectives, including investing in a new property, consolidating debts, or even financing a grandiose vacation.

Types of Home Equity Loans

Home equity loans come in different forms, each designed to suit various needs and circumstances. These include:

  • Traditional Home Equity Loans: A second mortgage on your home, offering a fixed amount of money that is repayable over a set term.
  • Home Equity Line of Credit (HELOC): A revolving line of credit with a variable interest rate, providing flexibility in borrowing and repayment.
  • Cash-Out Refinancing: Replacing your existing mortgage with a new one that is larger, and pocketing the difference in cash.

How is home equity built?

Home Equity can be built in Four different ways – by making a larger down payment during time of purchase, by paying down the Mortgage balance, by increasing the market value of the home with home renovations and additions or when the market value of your home increases on its own.

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Home Equity Loans Approved In Less Than 24 Hours!

Borrow against the equity of your Property
NO Appraisal Required For 2nd Mortgages! (Up To 80% LTV in The GTA)
NO Income/Credit Requirement

Services Provided


A & B Lender

Private Lender

Private Mortgage

Mortgage Broker

Home Purchase Mortgage

First Mortgage (1st Mortgage)

Second Mortgage (2nd Mortgage)


Bad Credit Mortgage

Equity Take Out/ Home Equity Loan

Debt Consolidation/ Home Renovation

STOP Power of Sale / Foreclosure

Income Tax Arrears/ Mortgage Arrears

Property Tax Arrears/ Consumer Proposal

Low Interest Rates & Low Fees

Up To 90% LTV Approved

Self Employed= OK!

Low/No income= OK!

Bad Credit= OK!

Equity Approved Loans!

NO Income Documents Required!

Quick Quotes (10-15 Minutes)

Fast Approvals (3-4 Hours)

Fast Closing (24-48 Hours)

The Application Process

The application process for home equity loans is generally streamlined, focusing on the current property value, its location and condition, and the loan-to-value ratio. Here we break down the steps involved:

  • Self-Assessment: Understanding your financial standing and objectives.
  • Property Valuation: Getting an accurate appraisal of your property’s current market value.
  • Document Preparation: Gathering necessary documents such as proof of income and credit reports.
  • Loan Selection: Choosing the right type of home equity loan based on your needs and financial health.
  • Application Submission: Submitting a well-prepared loan application to potential lenders.

Home Equity Loans in Ontario

In Ontario, the vibrant and robust real estate market, especially in the larger cities, offers a fertile ground for home equity loans. The province presents a plethora of fixed and variable rate options, fostering a favorable environment for both borrowers and private lenders.

Pros and Cons of Home Equity Loans

Understanding the potential advantages and disadvantages of home equity loans is crucial before making a decision.


  • Quick Approval: Faster application and approval process compared to traditional loans.
  • Credit Score: Potential to improve your credit score through timely repayments.
  • Debt Consolidation: Facilitating the consolidation of high-interest debts into a single, lower-interest loan.


  • Interest Rates: Potentially higher interest rates compared to traditional mortgages.
  • Closing Costs: The incurrence of additional fees during the closing process.
  • Financial Planning: The necessity for meticulous financial planning to avoid potential pitfalls.

Securing the Best Rates in Ontario

We facilitate your search for the best home equity loan rates in Ontario through a detailed chart that showcases competitive offerings in the market. It is essential to stay updated as rates fluctuate and to consult with a seasoned mortgage broker for personalized advice.

Determining Your Borrowing Limit

Understanding the factors that influence your borrowing limit is vital. These include the location and condition of your property, and the loan-to-value ratio post the equity loan funding. We broker home equity loans ranging from substantial to monumental amounts, ensuring a wide array of options to cater to diverse needs.

Deep Dive: Home Equity Loans vs. HELOCs

A comprehensive understanding of home equity loans and HELOCs can guide you in making an informed choice. We delve deep into the nuances of both, offering a detailed comparison to aid in your decision-making process.

Why Choose Equity Mainly Matters

Expert Guidance

Our team of adept mortgage brokers stands ready to assist homeowners in making informed decisions regarding mortgages, home equity loans, and HELOCs.

Best Rates

We leverage our extensive network of over 200 different lenders to offer you the most competitive rates in the current market scenario.

Client-Centric Approach

Our approach is centered around your needs, ensuring a match with the right mortgage and home equity product that aligns with your individual goals.

Hamilton, Ontario

I had a very pleasant experience working with Shawn Sef at Equity Mainly Matters Loans. We contacted Shawn looking for help in order to pay off our high interest credit card debts. Shawn made the process very easy for us by explaining the Mortgage loan details for the Debt Consolidation Mortgage Solution which he recommended for us. Shawn was actively present every step of the way and was very knowledgeable. I will definitely recommend Shawn to my peers due to his knowledge, professionalism and expertise.

Brampton, Ontario

Shawn is extremely passionate about his job. Shawn always demonstrates a positive and professional attitude. His easy going and friendly personality always makes the experience of working with him fun and stress free. Shawn made the entire Mortgage loan process very simple for me to which I’m thankful for. Shawn is very proactive and updates me on a regular basis in regards to my file.

Markham, Ontario

Me and my husband had never worked with a Mortgage Broker before. I needed to consolidate all of my debts. I was paying high monthly interest fees to my creditors and my bank informed me that I couldn’t get approved with them because of my low credit score. Shawn did an excellent job by helping me consolidate and pay off all of my various high interest debts. I’m now debt free. My credit score has improved and I don’t owe creditors any monthly high interest payments. We went from paying $1,650 month towards our credit card debts and loans, to now paying only $520 month which helped us build up a good savings. Shawn rescued us from our creditors and helped us save an extensive amount of money for our families future.


As a first time home buyer, we required a Mortgage broker who was willing to be very patient with us and to explain every detail of the Mortgage loan process and provide us with as much information as possible. Shawn informed us of the exact required down payment amount (based on the types of lenders that we qualified for), fees, closing costs, Land Transfer tax etc. Shawn was very good in providing us with accurate rates, figures and calculations which we realized we could afford the monthly Mortgage payments and make the Home Purchase work. One other important factor was that Shawn kept on top of our file by updating the progress every step of the way which was very important to us. Shawn is very proactive which we appreciated!

Toronto, Ontario

Shawn helped our family obtain a low rate 2nd Mortgage from a Private Lender. Banks turned us down as we failed to meet their requirements for the stress test, income and credit criteria. However, Shawn was able to find various Private Lenders/Investors that were interested in making us an offer and we ended up taking a great offer for a 2nd Mortgage which made the most sense for us. We will definitely refer our family and friends to Shawn in the near future. I can’t say how much I appreciate all the time and effort Shawn put into our file.

Mississauga, Ontario

Shawn demonstrates excellent customer service skills. He’s always very quick to respond to my emails and calls. Shawn helped me get approved twice in the past year alone and I hope to work with him again in the near future. Shawn was very friendly, attentive and dedicated his time and effort by providing me with solid knowledge, expertise and advice which in return helped the process of purchasing my first home very easy and stress free. Shawn even followed up on my behalf with my lawyer in order to finalize all the details. I would highly recommend his services.

Ottawa, Ontario

From the first time I spoke with Shawn Sef, I felt comfortable and at ease which was due to his calm and patient personality and attitude. He was also very understanding and caring to our current situation and needs by providing the best course of action for us to take which made the most sense for our family. Shawn is very knowledgeable within the mortgage field and delivered exactly what he said he would. He even provided us with accurate closing/funding dates from day one. I would definitely recommend Shawn Sef to any borrower looking for a good
Mortgage broker.

Toronto, Ontario

Shawn had helped my wife and I obtain a 2nd Mortgage from a Private Lender last year. We used the majority of the Mortgage loan proceeds to help renovate/upgrade our home. Once the refurbishments had concluded, we ordered a new appraisal and noticed that our house value had increased substantially. The following year, Shawn helped us refinance both our Institutional and Private Mortgages into a new low rate, 1st Mortgage with an A Lender (Bank) which is going to help us save an extensive amount of money in monthly payments moving forward. I’m very thankful for Shawn’s knowledge, skills and expertise within the mortgage industry which ended up helping us save thousands of dollars.


We anticipate the questions you might have and offer detailed answers to a range of frequently asked questions, facilitating a smoother journey in the home equity loan landscape.

1. Can you be denied for a home equity loan?

Yes, in Canada, you can be denied a home equity loan for various reasons including:

  • A low credit score
  • A high debt-to-income ratio
  • Insufficient home equity
  • Unstable employment history

Maintaining a good financial profile can enhance your chances of securing a home equity loan in Canada.

2. Do all home equity loans require an appraisal?

In Canada, most lenders require an appraisal to ascertain the current market value of your home. However, there are alternatives:

  • Some lenders may offer automated valuation models (AVM)
  • Leveraging existing relationships with a lender might facilitate a waiver

3. How can I get a home equity loan without an appraisal?

In the Canadian market, securing a home equity loan without an appraisal can be achieved through:

  • Seeking lenders who offer appraisal alternatives such as AVM
  • Leveraging existing relationships with financial institutions
  • Opting for a smaller loan amount to reduce risk for the lender

4. Are there closing costs on a home equity loan?

Yes, in Canada, home equity loans often come with closing costs, which may include:

  • Legal fees
  • Administrative fees
  • Appraisal fees

It is recommended to inquire about all potential fees upfront to avoid surprises later.

5. Why would someone need a home equity loan?

Canadians often opt for home equity loans for reasons such as:

  • Financing home renovations and improvements
  • Consolidating high-interest debts
  • Covering education costs or other significant expenses

Understanding your financial needs can help you determine if a home equity loan is the right choice for you in Canada.

6. Can you get mortgage default insurance on a home equity loan?

In Canada, mortgage default insurance is generally not available for home equity loans as they are considered second mortgages. It is primarily available for high-ratio first mortgages.

7. What does it mean when my lender’s commitment mentions my home insurance policy?

In the Canadian mortgage landscape, when a lender refers to your home insurance policy in their commitment, it means that maintaining a valid home insurance policy is a requirement to safeguard the lender’s investment in your property.

8. What happens if my insurance policy lapses during the term of my new loan?

In Canada, if your insurance policy lapses during the term, it could:

  • Lead to the lender purchasing insurance on your behalf, often at a higher rate
  • Result in a breach of your loan terms, potentially leading to foreclosure

Ensuring continuous insurance coverage is vital to avoid these severe consequences.

9. Where can I get more education about mortgages and home equity loans?

In Canada, to enhance your understanding of mortgages and home equity loans, you can:

  • Consult with a Canadian mortgage broker or financial advisor
  • Attend workshops and seminars focused on the Canadian mortgage market
  • Utilize online resources and forums for reliable information on the Canadian mortgage landscape

Being well-informed can help you make better decisions regarding your home equity loan in Canada.

Equity Mainly Matters is here to shepherd you through the home equity loan landscape with expertise and dedication. Reach out to us to initiate your journey towards securing a loan that is perfectly aligned with your needs. APPLY NOW!