Q: I recently purchased a cottage property that is in need of renovations. I have a fair bit of equity in my home. Can I use the equity from my primary residence as a source for funding cottage renovations?

A: Your best course of action will be a home equity loan. A home equity loan is secured against the equity in your home, separate from your mortgage and you can use a home equity loan to access funds for a variety of purposes, including completing renovations on another property!

Because Tribecca is a non-bank lending service, we are not required to operate under the same regulations as a bank or financial institution. This means it is much easier to access your home equity funds.

Additionally, the terms and payment options can be customized to your situation, taking into consideration your funding needs, ability to make payments and long term plans for the property.

One of our Finance Managers can customize a plan that will give you the best use of your equity with as little stress as possible! – Amit Anand, Senior Mortgage Manager, www.Tribecca.ca

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Tribecca Finance is an alternative lending solution for many people in Ontario. We are dedicated to treating all of our customers as more than just a number. Our customers always receive personal service from one of our professional and friendly lending specialists. We understand that life is full of financial challenges and opportunities. We listen and work with you to offer loan solutions to meet your needs. Our lending products consist of personal loans, home equity loans, construction loans, first mortgages and second mortgages.

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