Home Equity Loan Ottawa: Use Your Home’s Value to Reach Your Goals
Your home can do more for you than provide shelter, it can fund your financial goals. With property values in Ottawa steadily rising, a home equity loan is a powerful way to unlock value for debt consolidation, renovations, or investments without selling your home.
What Is a Home Equity Loan?
A home equity loan lets you borrow up to 80% of your property’s value, minus your existing mortgage balance.
For example:
If your home is worth $700,000 and your mortgage is $420,000, you could access up to $140,000.
Use that equity for:
- Paying off credit cards or lines of credit
- Upgrading your property
- Covering tuition or medical costs
- Investing in business opportunities
Why Work With a Mortgage Broker in Ottawa
Banks may not approve your application if your credit or income doesn’t fit their criteria. A mortgage broker has access to dozens of alternative lenders who evaluate your full financial picture.
They can:
- Get quick approvals (24–48 hours)
- Customize your loan terms
- Offer competitive interest rates
- Handle paperwork efficiently
Real Ottawa Success Story
John and Mary in Nepean wanted to renovate their home and pay off $35,000 in debt. Burke Financial helped them secure a home equity loan, saving them $800/month while upgrading their kitchen and increasing their property value.
Steps to Get a Home Equity Loan in Ottawa
- Calculate your home’s equity.
- Contact a broker to compare options.
- Submit documents (proof of income, property tax, appraisal).
- Get approved and funded in as little as a few days.
Mistakes to Avoid
- Borrowing without a repayment plan.
- Applying to only one lender.
- Ignoring how equity affects long-term goals.
Final Tip:
A home equity loan can turn your Ottawa property’s value into opportunity, helping you move forward with confidence.
Ready to access your Ottawa home’s equity? Let’s find the best solution for you.
📞 1-866-702-9394
🌐 www.burkefinancial.ca
