You can use equity in your home to pay for your kid’s education.
The equity in your home is your money and you can use it for whatever you need. You must borrow this money to get access though; and if you have bad credit that is hard to do. If you have savings set aside for your children’s post secondary education, you are in a good place; but if you don’t but you had the insight to purchase a home in the last few years, you are still good. The real estate market in Canada has been great and the lending climate has been great too. Interest rates from the BoC are going up but that’s not the issue is it? If you need to pay for your kid’s future you need money now and if you have bad credit and other debts that need addressing that thought could be scary. With a second mortgage from LM Financial Services you can get the money and you could be on your way to rebuilding your credit!
What is the cost of borrowing my own money from myself?
The cost of borrowing from yourself is easy to work out. it is a matter of starting the application process. The issue is getting your kid into university and avoiding huge OSAP debt afterwards. The equity in your home is accessible even if you have bad credit! Use it! get it out and secure your child’s future. There will be a slip in home value because of the foreign buyers tax and because interest rates are going up. Your ability to access the optimum amount of your own money will dwindle if you take too long to say yes. APPLY with LM Financial Services and find out what you are eligible for and exactly what that cost will be.
You will be approved and you will get the money fast!
LM Financial Services approves deals fast because we have all of our processes in house. Your approval is guaranteed if you own your home and have equity in your property. Even if you have bad credit or you have large outstanding debts, you will get the money. LM Financial Services will then bring you back to a major lending institution within a year in order to discharge our loan and get you dealing with a bank again. it really is simple and it is fast!