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6 years 5 months ago #1051 by KevinGam
KevinGam created the topic: PROCEDURES FOR HOME EQUITY LOAN
Hi all,

I'm new to this forum. My name is Bobbie Adams. I'm from Toronto. I work as a Human Resource Manager in a multinational firm based in Ontario. Now, I'm planning to start a women's boutique store as a part-time business in partnership with my neighbors. We have rented a space in a calm area nearby Earlscourt Park.

The initial expense for setting up such a business is quite high. I own a house in Toronto and my partners suggested me to apply for a home equity mortgage. The interest rates offered by the banks and credit unions are very huge. These rates are often higher than the rate that we have with some mortgage brokers. What all documents should I submit for getting a mortgage from a broker? I had a research and found a few mortgage brokers offering various rates in Ontario . So, please share your suggestions and opinions regarding this. Thank you all in advance!

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