Compare Borrowing Options for Canadian Homeowners
With our standout low rates, flexible terms, fast and efficient service, and our long term approach to considering your financing needs, we are confident in saying Cannect offers the best borrowing option for Canadian homeowners.
Borrowing options for homeowners
CannectFlex loan
A fast, flexible-term home equity loan that sets you up to save when it’s time to renew your mortgage.
Loan amount
$25k – $1 million
Typical interest
7.90 – 9.99%
Typical fees
Moderate
Terms
Flexible
Time to close
As fast as 24 hours
Credit/income requirements
Flexible
Documentation
Minimal
Home equity line of credit (HELOC)
Available credit that you may use on an as needed basis, but may lead to an increased mortgage rate when it’s time to renew.
Loan amount
$5k – $500,000k
Typical interest
3.85% – 7%
Typical fees
Low
Terms
Strict
Time to close
A week or more
Credit/income requirements
Strict
Documentation
Substantial
Mortgage refinancing
A slow to secure, long-term, refinanced mortgage that combines all your debt. If it costs less to refinance now, Cannect gets you these savings.
Loan amount
$25k to $1 million or more
Typical interest
4.34 – 5.40%
Typical fees
High
Terms
Strict
Time to close
A week or more
Credit/income requirements
Strict
Documentation
Substantial
Competitor 2nd mortgages and home equity loans
A home equity loan at a higher interest rate than your current mortgage, from competitors who don’t have your long-term savings in mind.
Loan amount
$25k – $1 million
Typical interest
7 – 11%
Typical fees
High
Terms
Strict
Time to close
A few days or longer
Credit/income requirements
Moderate
Documentation
Moderate
Stricter rules in 2018 mean more costly borrowing today. We’re here to help.
We know millions of Canadian homeowners just like you are finding it more and more difficult to borrow money, whether you are looking to consolidate your debts into a more manageable monthly payment, renovate your home, or make an investment.
Without certain income and credit requirements, it is very difficult to borrow money from the big banks, with RBC, Scotiabank, BMO, and TD becoming more and more restrictive with their lending.
While there are still many alternative loan options to choose from, they often involve locking you into inflexible, higher-rate borrowing that will cost you tens of thousands of dollars in fees and added interest.
As homeowners, we launched Cannect to provide the flexible, high-value service we believe every Canadian deserves.
Gain long term financial flexibility with Cannect
As the Canadian real estate and the lending market becomes more complicated, Cannect simplifies how you can use the equity in your home to borrow money at the best possible rates.
Regardless of whether you have an existing mortgage (or two, or three) on your home—regardless of what your bank may have told you—Cannect will find the most effective way for you to borrow money.
Our goal is to provide you with the best short-term loan solution for long-term value, so you can work towards the lowest possible interest-rate mortgage, without added fees or penalties and costly long-term debt.
or call us at 416-766-9000
Not convinced yet? Shop around and see for yourself.
You could take our word for it or take a look around and compare. Private second and third mortgages are offered by many companies and major Canadian banks. See how they compare, then come back to apply for a CannectFlex loan and set yourself up for long-term savings.
Capital Direct
360 Lending
RBC home equity loan
Fisgard
Matrix Mortgage
Scotiabank home equity loan
Credit Butler
Alpine Credit
TD home equity loan
Nu-Borrow
BMO home equity loan
CIBC home equity loan
Ready to get started with Cannect?
Our home financing services include our short-term CannectFlex loans, new mortgages, mortgage refinancing, and more.
CannectFlex home loan
Get a low interest, short term loan today, without incurring mortgage penalties.
New property purchase
If you’re purchasing a new property, start here.
Learn more
Refinance an existing mortgage
If you’re looking to make a change to your current mortgage, start here
Learn more
Don’t need a quote today?
Sign up for your personalized property value report so you’ll know your options when it’s time to borrow or renegotiate your mortgage.