- Pre-approval in as little as 24 hours
- Credit scores 650 and below welcome
- Licensed Ontario mortgage brokers — FSN #13301
- No hidden fees — straightforward advice you can trust
Cambridge
Galt
Preston
Ontario
Emily Innala
Home Equity Loan
A home equity loan provides a one‑time lump sum borrowed against the equity in a home. Unlike a HELOC, the interest rate and monthly payment are fixed for the life of the loan, making it predictable and suited to financing large purchases or paying off debts. Homeowners often use home equity loans for renovations, debt consolidation or major expenses such as education costs.
Lighthouse Lending calculates the available equity, compares offers from different lenders and structures the loan to achieve a lower rate than most unsecured debt. We help clients understand the repayment schedule and ensure the loan fits within your overall financial plan while preserving equity for future needs.
Home Equity Loan
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We move quickly so you don't lose momentum on your financial goals.
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Credit challenges don't disqualify you. We've seen every situation and helped through it.
Our volume gives us access to preferred rates banks simply can't match.
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While requirements vary by loan type, we work with buyers with scores as low as 580 for FHA loans. Conventional loans typically require 620+.
In Ontario, the minimum down payment is 5% for homes up to $500,000, 5% on the first $500,000 and 10% on the portion above that up to $1.5 million, and 20% for homes over $1.5 million, with mortgage insurance required if you put down less than 20%.
Mortgage rates change frequently based on market conditions, but in Canada, most borrowers are currently seeing approximately 3.8%–5.5% for fixed rates and around 3.3%–4.5% for variable rates, depending on the lender, term, and your financial profile.
The mortgage process typically takes 1 to 4 weeks, depending on factors like document submission, lender approval times, and the complexity of your application.
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