Home Equity Loans in Alberta
If you own a home in Alberta, the equity you've built can help you get out from under high-interest debt. We help Alberta homeowners consolidate debt, lower their monthly payments and free up cash, including people the bank turned down.
Alberta: 587-900-0036 | BC: 604-200-3228
Where We Lend in Alberta
We've funded home equity loans for homeowners in Calgary, Edmonton, Okotoks, Airdrie and Grande Prairie. Everything is done online and by phone, so it doesn't matter where in Alberta you live.
Serving Calgary, Airdrie, Okotoks and surrounding communities.
Serving Edmonton, St. Albert, Sherwood Park, Spruce Grove, Leduc, Beaumont and Fort Saskatchewan.
Need a lawyer?
We work with lawyers across Alberta and can connect you with one.
Turned down by the bank?
A bank can only offer its own products. As a broker, we take your file to banks, alternative lenders and private lenders, and match it with the one most likely to approve it.
How Much Can You Borrow?
Most Alberta homeowners can borrow up to 80% of their home's value, minus their current mortgage.
Example: your home is worth $550,000 and you owe $300,000.
80% of $550,000 = $440,000
Minus the $300,000 mortgage = up to $140,000 available
Your actual amount depends on the lender, your credit, your income and the property. Some lenders go to 85%. We'll tell you what you should qualify for on the first call.
Your Options
We'll lay these side by side for your situation on the free call. Turned down by the banks? A private mortgage approves mainly on your equity.
A line of credit secured by your home. Borrow as you need it and pay interest only on what you use. No minimum credit score.
A separate loan that sits behind your first mortgage, so you keep your current rate and avoid a penalty. Common for debt consolidation when the bank won't refinance.
Replace your mortgage with a larger one and take the difference in cash. Often means one lower payment, but breaking early can carry a penalty.
What It Costs
Costs depend on the lender and the solution that fits. They can include:
Lender fee: None with some lenders. Alternative and private lenders usually charge one.
Broker fee: Depends on your file and the lender.
Legal fees: Your lawyer registers the mortgage and releases the funds.
Appraisal: Ordered after approval. Some lenders use a desk appraisal instead.
Interest rate: Based on the lender, your credit and your equity.
Every cost is shown to you before you sign.
How It Works
Most files take 10 days to 4 weeks from first call to funds.
1
Quick call
About 5 minutes.
2
Application by phone
About 10 minutes.
3
Your proposal
What you should qualify for.
4
Documents
Our team will reach out with exactly what we need.
5
Lender shopping
Multiple lenders, best overall solution.
6
Approval and appraisal
You sign, then the appraisal is ordered.
7
Lawyer signing
We can find a lawyer near you anywhere in Alberta.
8
Funds released
Your lawyer sends the money on closing.
Who We Help
Debt consolidation
One payment instead of many.
Bruised credit
Past credit trouble doesn't rule you out.
Low income
Income outside the bank's formula can still work.
Self-employed
Lenders who look past write-offs.
Retirees
Pension income can qualify, even at a bank.
Renovations and big expenses
Use your equity for the project you've been putting off.
We've funded home equity loans in Calgary, Edmonton, Airdrie, Okotoks and Grande Prairie.
Why Alberta Homeowners Choose Elevate Lending
Women-led and judgment-free.
Licensed in Alberta and BC.
In the real estate industry since 2010.
Access to multiple lenders.
Free consultation.
Every fee shown before you sign.
Alberta Home Equity Loan FAQs
Do you only work in Calgary and Edmonton?
No. We work with homeowners across Alberta. Everything is done by phone, and we can find a lawyer near you for signing.
Can I get a home equity loan in Alberta with bad credit?
Absolutely, yes. Alternative and private lenders weigh your equity and overall situation, not just your score.
I'm self-employed in Alberta. Can I qualify?
Yes. We work with lenders who look at self-employed income differently than banks do.
How long does it take?
Usually 10 days to 4 weeks from your first call.
Are you licensed in Alberta?
Yes. Our licence details are on our About Us page.
What does it cost?
It depends on the lender and the solution. You see every fee before you sign.