Equity Loans: Home Equity Loans vs. Guelph Auto Title Loans

Do you need to raise money fast? If you have a good amount of equity like a car or a house, it is very easy for you take out an equity loan and obtain instant cash. Equity loans are among the most efficient and reliable financial options.

Equity loans are loans which are dependent on equity as collateral. Take for instance a mortgage against a house. The house is the collateral for a home equity loan. Equity loans also include Guelph auto title loans which are dependent on the vehicle as equity for the loan.

To help you select the best equity loan that will suit your personal condition, take into consideration some information below:

Take out home equity loans:

• If you have a house which you can take out a loan against. This is because home equity loans are dependent upon your house as collateral for the loan.
• Whether or not you have mortgaged your house already. You may take home equity loan despite your house already having been mortgaged to a lender. There are lenders who accept a second mortgage over a house which already have a lien on it. However, such lenders are limited so you could never fully rely on this when it comes to immediate cash needs.
• If you are sure you won’t miss any regular payments. When it comes to home equity loans, what you are risking is a roof above your head. So if unfortunately you miss making payments, you could end up homeless.

On the other hand, take out auto title loans:

• If you own a car that is registered under your name. Guelph auto title loans allow you to enjoy immediate cash relief by making use of your vehicle’s equity. It is however crucial that the car collateral be registered under your name. otherwise, your application will be declined
• If you need to use your car during the loan term. Guelph auto title loans is an equity loan dependent on your car but despite this, you are still able to use your car during the loan term as the lenders would only want to possess the vehicle’s title rather than the car itself.
• If you need immediate cash relief. It is very easy to obtain Guelph auto title loans. The process does not take too much time. You can have your loan money within the day of application to less than an hour. This makes auto title loans a convenient financial solution for people who need instant cash access.
• If you need a big amount of cash. What is more, Guelph auto title loans, specifically from Instant Loans Canada, allow you to borrow against your vehicle the amount of $50,000 which is far bigger than what other lenders have to offer!