Getting Canadians The Cash They Need
You have been working hard waiting to go on that vacation. Perhaps you have even been saving up for years but you are still shy of the amount you need. Possible destinations are swimming in your head: a trip to the ancient city of Machu Picchu to see one of the world’s most renown archeological sites; to China to see the Forbidden City, Tiananmen Square, and the Great Wall; to the Bahamas so you can scuba dive with the dolphins; or maybe it’s time to finally do that month-long trek around Europe?
Wait no further for that trip of a lifetime. With a loan from The Money Depot, we can help you pay for a vacation. Just make sure to take lots of pictures. You’ll definitely want to remember it!
- You work hard for your money, perhaps you should enjoy it?
- Finally take that trip of a lifetime. The choices are endless
- Pay for a vacation with your home equity
- You don’t need to wait any longer. Take that trip now!
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How to Use Your Home to Pay for Your Vacation
If you don’t have the cash, one way to pay for that vacation is to take out a home equity line of credit (HELOC). With a HELOC you only take out what you need so that you do not pay interest or fees on the money you don’t use. You can take out up to 65% of your home’s value and only need 20% home equity.
Another option is to refinance your mortgage. If you refinance your mortgage, your payment schedule will be revised and your mortgage will be recalculated. You will receive a lump sum payment; therefore, you will want to know exactly how much you need so that you do not pay fees on what you don’t use.
Finally, you could also take out a second mortgage. You can borrow up to 90% of your home’s value, and you can do so even if you have bad credit. This option is best for those who need to need to consolidate their debt or increase their credit scores.
What Is Home Equity and How Can It Help You Pay for Your Vacation?
The Money Depot works with dozens of lenders across Canada to get them competing for your business. These lenders will typically offer one of two products to help you get the cash you need to take that vacation today:
If you own your home: then leveraging the equity in your home makes the most sense. As mentioned above, this can be done through a HELOC (a Home Equity Line of Credit), or through refinancing your home, or even through a second mortgage, although it is unlikely that would the ideal solution. To find out more of these products you can visit our page on refinancing your home.
If you don’t own your home: then it is simply a case of us working hard to find you a lender that will provide you with a loan at a low interest rate. Our team of advisors will work with you to build a case for why a lender should extend this loan to you. To find out more about personal loans, you visit our page on personal loans.
Why Use The Money Depot?
The Money Depot has been Canada’s go-to source for loans since 2009 and we have been in the business of lending money to Canadians since 1999. We work with dozens lenders across the country to help take the stress out of refinancing, and getting access to affordable loans by allowing consumers to get multiple offers from several lenders in a matter of minutes. We get Lenders competing for your business. If you’re tired of hearing no from the banks then get in touch with us! We say “Yes” more often
At The Money Depot, we care about our clients and treat you like individuals. We realize that everyone’s financial circumstances are unique, and we get to know each and every one of them. You are not just a name on a piece of paper, or a number at a bank; you are a person.
Although our loans are short-term solutions to your financial needs, we will work with you to ensure you have a long-term plan. With a loan from The Money Depot, you will be able to address your current issues while you work to improve you credit score, increase your income, and find a more permanent solution. We know what you are going through and are here to help you get on with your life. No need to be embarrassed or feel awkward; you are not the only one that has ever been in this situation. Kick the elephant to the curb and call us for a consultation today.