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Spring Mortgages is a home equity lending solution from Spring Financial that allows Canadian homeowners to borrow against the value of their property. It is designed as a flexible alternative to traditional bank mortgages.
Products Offered
AMOUNT
$25K - $1M
INTEREST RATE
Varies
TERMS
1 - 5 Years
Conditions & Rates
Interest rate Varies
Amount$25,000 – $1M
Term 1 – 5 Years
Eligibility & Documents
Who is eligible
- Canadian resident
- Over 18 years of age
- Owns a home
- Property tax bill
What you need to provide
- Government ID
- Mortgage statement
- Property assessment
- Complete online application
Repayment & Issuance
How fast can you get the money Over a week
Funding method Direct Deposit
How does repayment work Bi-weekly or monthly payments from bank account
Contact information
[email protected]- 555 Burrard Street, Suite 2900 Vancouver, BC V7X 1M8 Canada
Availability:
Ontario, British Columbia and AlbertaSupport Offered:
- Call Centre
- Web Support
Call Center:
Monday to Friday: 6:30 AM – 5:00 PM (PT) Saturday & Sunday: ClosedFrequently Asked Questions About Spring Mortgages
What is Spring Mortgages?
What can I use a Spring Mortgage for?
Funds can be used for a variety of purposes, including debt consolidation, home improvements, major expenses and financial restructuring.
How fast is the application process?
The application is quick and completed online. Spring Financial emphasizes a fast, streamlined process with rapid responses after submitting your information.
Do I need perfect credit to qualify?
No, Spring Mortgages is positioned as an alternative lending solution, meaning it may be accessible to borrowers with a wider range of credit profiles compared to traditional lenders.
How much can I borrow with Spring Mortgages?
You can borrow up to 80% of your home’s value, depending on your available equity and existing mortgage balance.
Who is eligible for Spring Mortgages?
Spring Mortgages is designed for homeowners who have equity in their property. It may be a good option for borrowers who don’t qualify with traditional banks or are looking for a more flexible approval process.
Is the application done online?
Yes, the entire process starts online with a simple application form, making it convenient to apply from anywhere.
Is Spring Mortgages a traditional bank mortgage?
No, it is an alternative mortgage solution focused on flexibility, speed, and access to home equity rather than offering standard bank mortgage products.
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