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6 things to know when applying for a second mortgage

February 27, 2024

So, you're ready to apply for a second mortgage. You've explored all the loan options available to you, worked through the numbers with a mortgage calculator, and got your paperwork in order. Before you take the next step, PADS presents a crucial guide on what to expect during the home equity loan application process. This article will revisit some aspects you might already know and reveal others that could surprise you. Being well-informed is key when facing such a significant financial decision. Fully grasping how to secure and utilize a home equity loan is a strategic move that puts you ahead in your financial journey.

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Understanding interest rates today: a deep dive

February 7, 2024

As a homeowner in Quebec, you likely already know that interest rates play a crucial role in your financial life, influencing everything from your mortgage payments to the return on your savings. Yet understanding the ins and outs of these rates, especially when it comes to products like a home equity line of credit or a how home equity loan, can be a challenge. This guide aims to demystify the mechanisms behind interest rates, shedding light on the factors influencing the Bank of Canada’s policy decisions.

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How to access your mortgage statements online from major Canadian banks

February 7, 2024

Discover the essential steps to access your mortgage statements online from all major Canadian banks. Apply for a loan easily with your mortgage statement finder guide

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Understanding the 60-day notice (Part 2)

February 7, 2024

When traditional banks step back, it doesn't mean all doors are closed. This is where private lenders like PADS come into the picture, offering home equity loans that can be a lifeline for homeowners facing a 60-day notice.

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Understanding the 60-day notice (Part 1)

February 7, 2024

In the world of property ownership in Quebec, few things strike fear into the hearts of homeowners like the 60-day notice. But what exactly is this document, and why does it hold such power?

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Bridge loans : A homeowner’s pathway to new property ownership

February 7, 2024

If you’re a homeowner on the market for a property but have accumulated significant debt that has impacted your ability to borrow, a home equity loan from PADS can be your solution.

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Credit card debt vs. home equity loans: A guide for homeowners

February 7, 2024

In the evolving world of personal finance, understanding your options is more critical than ever. For homeowners in Quebec grappling with debt or foreseeing significant upcoming expenses, two common solutions arise: credit card borrowing and home equity loans. Both methods offer immediate financial relief, but they differ vastly in their costs, terms, and long-term effects. This article aims to shed light on these options, equipping you with the knowledge to make informed financial decisions.

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Embracing private lending: PADS' innovative approach to mortgages

February 7, 2024

Private lending, often overshadowed by traditional banking, is coming into its own in Quebec. With rising interest rates in Canada, the gap between conventional and private home loans is shrinking, making private loans increasingly attractive. PADS, a fintech startup, is leading this shift with its private home equity loans, which start at an appealing rate of 9.99%, depending on the client's profile.

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Understanding home equity loans in Quebec’s current economic climate

February 7, 2024

In today's turbulent economic climate, many Quebec homeowners face cash flow challenges. With interest rates at their highest since 2001 and household debt at record levels, finding funds to meet financial obligations or unexpected expenses can be daunting. Among the available options are credit cards, Home Equity Lines of Credit (HELOCs), and home equity loans, each offering unique features and potential implications. This article aims to clarify what a home equity loan is, the differences between private home equity loans and a Home Equity Lines of Credit also known as HELOCs and will answer your most pressing questions about home equity loans in Quebec.

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