Fast and Flexible Home Equity Loans from Tembo Financial
Fast and Flexible Home Equity Loans from Tembo Financial
Home equity loans are a great financial tool where homeowners use the equity of their home for a wide variety of purposes. Are you looking to pay down debt, buy a second home, finish a renovation project, pay for your child’s school or just excited to take your family on a long-awaited vacation? With a home equity loan in Ontario from Tembo Financial the options are practically endless.
For years, Tembo Financial has been providing exceptional service and helping homeowners with acquiring home equity loans in Ontario. Regardless of a homeowners age, income or credit score we can approve clients fast and efficiently often with no credit checks or appraisals*. We provide flexible terms and provide funds to homeowners in many cases within 48 hours from receiving their initial application.
What can a home equity loan be used for?
As one of the leading financial services providers, Tembo Financial offers a tailored solution to each client. Once approved, homeowners can use the equity for many things, such as:- The deposit or closing costs of another home.
- Debt consolidation
- Home Renovations & repairs
- Purchasing new furniture.
- Personal emergencies.
- Paying off personal taxes
- Going on vacations.
- Paying for a child’s wedding or their education.
Example of a home equity loan for home renovations:
John and Nancy initially purchased their home in 2010 and have seen home prices in their area grow substantially over the years. They have always wanted to update their kitchen and bathrooms but with starting their own businesses, they initially found it very difficult to find the funds to complete these renovations. Through Tembo’s website, John and Nancy applied for a $40,000.00 Home Equity Loan to complete their upgrades. After reviewing the necessary documents, they were approved the same day and had the funds in their account within 48 hours of submitting their application.
Example of a home equity loan for second home purchase:
Dan and Heather have always dreamed of buying a cottage on a peaceful lake but with property values always on the rise, they never thought saving for the down payment was ever realistic. After speaking with Tembo Financial, Dan and Heather realized they had enough home equity in their primary home in Toronto to use for their down payment. After searching around for the perfect cottage, Dan and Heather were able to make their dream a reality by using a home equity loan from Tembo Financial.
Example of a home equity loan before selling a home:
No longer do you have to wait until the future closing date of your home to receive funds from the proceeds of sale. Tembo Financial can have your funds to you in as little as 48 hours (from receipt of application) with no appraisal and no credit check! *. If you have big debts that need to be paid Now and they can’t wait until your sale closes Tembo’s equity advance options are fantastic.
After reviewing a firm purchase and sale agreement, we can provide open terms where the homeowner doesn’t need to make monthly payments*. The best part is that the loan would simply get repaid on the closing date of your existing home. Pay your debts today without any out of pocket expenses on sold properties.
For example: If you were to sell your home firm on April 1 st , but the closing date is set for July 1st, you would normally wait the 90 days until closing to receive the proceeds of the sale. Thanks to Tembo Financial, you could avoid this waiting period, and receive the funds you need within 48 hours, or in this case by April 3 rd .
Looking for home equity loans in Ontario? Contact Tembo Financial
Tembo Financial has been one of Ontario’s leading home equity loan providers. We will ensure to get the funds to homeowners as quickly as possible so they can use it to cover all the things they need. Our terms are flexible, and our approvals don’t depend on homeowner’s credit score. Contact us today if you are interested in exploring a home equity loan in Ontario.
Frequently Asked Questions
The fees are simple with our home equity advance loans and always clearly outlined in our commitment and borrower disclosure. The fee structure is dependent on many factors, including the loan amount, the position on title as well as the location and condition of the subject property. Give us a call today to discuss home equity loans in Ontario and get a quote at 1 844 238 6717
Yes, lawyers are required to complete the loan transaction. Fortunately for our clients, Tembo Financial has really low legal fees.
The application process is simple and only takes a few short minutes to complete. Most clients are approved in minutes! We are often able to fund the loan in 24-48 hours. Some conditions apply and are subject to qualification.
All our loans are secured by real estate. Tembo Financial registers a mortgage ranking directly behind the existing mortgage(s) in place.
Funds are sent to our client’s bank account directly from the lawyers once the file is “closed” and the mortgage is registered on title.
In most cases we do not require appraisals, however some exceptions apply.
Personal Information:
2 pieces of Valid ID (Drivers License, SIN #, Credit Card, Passport)
Void Cheque,
Most Recent NOAs (upon request),
Documents Related to the property:
Most recent mortgage statement(s),
Most recent property tax statements,
(If the property is Sold or going to be sold)
Listing Agreement,
Purchase and Sale Agreement (when applicable),
Sold MLS Listing (when applicable),
Any waivers, Amendments pertaining to the sale,
A copy of the buyers deposit cheque (when applicable).
The interest rates at Tembo Financial are competitive to current market prices but do vary depending on each client situation. Please call our offices at 1 844 238 6717 to get a quote.
Our minimum loan amount at Tembo Financial is $25,000.00
Clients have options when it comes time to repaying the loan. Many clients decide to repay the loan directly through their lawyer on the closing date when the subject property is sold. Clients might not be selling their home and therefore decide to pay off the loan through a mortgage refinance or from their own personal funds. Every situation is different. If you need assistance in figuring out your repayment strategy, please give us a call for home equity loans in Ontario today.
Tembo lends throughout Ontario. Please contact us directly to see if we lend in your area. Some of our approved lending areas include: Ajax, Arnprior, Barrie, Bracebridge, Bradford, Brantford, Belleville, Burlington, Brampton, Caledon, Cambridge, Collingwood, East Gwillimbury, Erin, Fort Erie, Guelph, Goderich, Gravenhurst, Grimsby, Hamilton, Halton Hills, Huntsville, Ingersoll, Kawartha Lakes, Kingston, Kitchener, London, Markham, Mississauga Milton, Mono, Newmarket, Niagara Falls, Oakville, Orillia, Ottawa, Orangeville, Pelham, Pickering, Peterborough, Prince Edward County, Richmond Hill, Sarnia, St Catharines, St. Thomas, Toronto, The Blue Mountains, Vaughan Wasaga Beach, Whitby, Waterloo, Whitchurch-Stouffville, Windsor.
Yes, some of our equity advances are fully open. This allows our clients to repay their loan any time during the term of the loan without any prepayment penalties. Depending on the client’s situation, we can provide terms that make the most sense for the situation.
In most cases our equity advances are 12-month terms. We can customize the term length to be anywhere between 1 and 12 months for all Equity Advances.