Home Equity Loans
With a secured personal loan, second mortgage or mortgage refinancing, you can free up the equity in your home and gain access to our lowest rates and payments.
Personal Loans
From $500 - $30,000
Get a free loan quote telling you how much money you could borrow. It’s quick and won’t impact your credit score.
Debt consolidation
Consolidate multiple high debt balances into a single payment.
Unsecured personal loans
Get the money you need with manageable and affordable payments that fit your budget.
Home repairs
Cover home repairs like a new roof or flood damage.
Home improvements
Cover home improvements like an addition or kitchen remodel.
Large expenses
Pay for large expenses that require money upfront.
Debt consolidation
Consolidate multiple high debt balances into a single payment.
Unsecured personal loans
Get the money you need with manageable and affordable payments that fit your budget.
Unsecured personal loans
Get the money you need with manageable and affordable payments that fit your budget.
Home repairs
Cover home repairs like a new roof or flood damage.
Unsecured personal loans
Get the money you need with manageable and affordable payments that fit your budget.
Home improvements
Cover home improvements like an addition or kitchen remodel.
Unsecured personal loans
Get the money you need with manageable and affordable payments that fit your budget.
Large expenses
Pay for large expenses that require money upfront.
We’ve helped millions of Canadians just like you
We’ve helped millions of Canadians just like you
Call 800-995-2274 or start with a loan quote, then ask your Lending Specialist about our borrowing options for homeowners.
View our guide Home equity: How and why to tap into it
Learn more from our beginners guide to accessing home equity.
Fairstone helped us out when we were in a tough spot and consolidation through our bank wasn't an option. Quick, understanding and friendly service.
Fairstone Customer - ON
98% of our customers were satisfied with Fairstone.* Here's why:
I was in a pinch with my basement reno and Fairstone helped me get the loan I needed to get it done. My Lending Specialist was quick, informative and helpful!
Fairstone Customer – AB
Being a first-time home buyer, it was difficult to keep up with a mortgage, household bills and credit card bills. Thanks to Fairstone, I was able to pay off my car and bills. I instantly felt a huge relief.
Fairstone Customer – ON
Fairstone’s borrowing options for homeowners
Compare our home equity borrowing options to find which one is right for you.
Product Details
Second mortgage
Secured personal loan
Lien position
Loan amount
Interest rate*
Benefits
Term
Amortization period
Maximum LTV
Second position
Lower loan amounts, for those looking to borrow less money
3-10 years
3-10 years
100%
From 19.99%
Up to $60,000
Second position
1-5 years
Up to 25 years
80%
From 17.90%
Up to $300,000
First position
Up to $600,000
From 14.99%
80%
Up to 30 years
1-5 years
Mortgage refinancing
Quicker home equity loan application process
Shorter repayment term
Fixed interest rate
Fixed interest rate
Fixed interest rate
High borrowing limit
Doesn’t affect the first mortgage – no change in terms
Flexibility to choose your own term from 1-5 years
Higher borrowing limit and lower interest rate
Only one recurring mortgage payment
Flexibility to choose your own term from 1-5 years
*Accurate as of January 2023
Secured personal loan
Lien position
Loan amount
Interest rate*
Maximum LTV
Amortization period
Term
Benefits
Second position
Up to $60,000
From 19.99%
100%
3-10 years
3-10 years
Lower loan amounts, for those looking to borrow less money
Quicker home equity loan application process
Shorter repayment term
Fixed interest rate
Second mortgage
Lien position
Loan amount
Interest rate*
Maximum LTV
Amortization period
Term
Benefits
Second position
Up to $300,000
From 17.90%
80%
Up to 25 years
1-5 years
High borrowing limit
Doesn’t affect the first mortgage – no change in terms
Flexibility to choose your own term from 1-5 years
Fixed interest rate
Mortgage refinancing
Lien position
Loan amount
Interest rate*
Maximum LTV
Amortization period
Term
Benefits
First position
Up to $600,000
From 14.99%
80%
Up to 30 years
1-5 years
Higher borrowing limit and lower interest rate
Only one recurring mortgage payment
Flexibility to choose your own term from 1-5 years
Fixed interest rate
Homeowners have three home equity loan options:
Secured personal loan
Secure your installment loan using home equity to access a lower interest rate and more money.
Lower loan amounts
Quicker home equity loan application process
Shorter repayment term
Fixed interest rate
Second mortgage
Maintain your existing mortgage and open a second mortgage to access additional funds
High borrowing limit
Doesn't affect the first mortgage - no change in terms
Flexibility to choose your own term 1-5 years
Fixed interest rate
Mortgage refinancing
Take out a new first mortgage to pay off your existing mortgage. Your new mortgage can be for a larger amount to access funds.
High borrowing limit and lower interest rate
Only one recurring mortgage payment
Flexibility to choose your own term 1-5 years
Fixed interest rate
Debt consolidation
Consolidate multiple high debt balances into a single payment.
Unsecured personal loans
Get the money you need with manageable and affordable payments that fit your budget.
Convert home equity into money you can access
With a secured personal loan, second mortgage or mortgage refinancing, you can convert home equity into money for debt consolidation, home repairs, large expenses and more. Plus, you’ll maximize your borrowing power and gain access to lower interest rates and payments.
Here are some of the reasons you may want to free up the equity you’ve built in your home:
Home repairs
Cover home repairs like a new roof or flood damage.
Home improvements
Cover home improvements like an addition or kitchen remodel.
Large expenses
Pay for large expenses that require money upfront.
Unsecured personal loans
Get the money you need with manageable and affordable payments that fit your budget.
Unsecured personal loans
Get the money you need with manageable and affordable payments that fit your budget.
Unsecured personal loans
Get the money you need with manageable and affordable payments that fit your budget.
Secured personal loans
Use home equity to access lower interest rates, lower payments and more money.
Unsecured personal loans
Get the money you need with manageable and affordable payments that fit your budget.
Debt consolidation loans
Combine multiple bills and get out of debt faster with one simple monthly payment.
Unsecured personal loans
Get the money you need with manageable and affordable payments that fit your budget.
Emergency loans
Manage urgent or unexpected expenses with funds in as little as 24 hours.
Convert home equity into money you can access
With a secured personal loan, second mortgage or mortgage refinancing, you can convert home equity into money for debt consolidation, home repairs, large expenses and more. Plus, you’ll maximize your borrowing power and gain access to lower interest rates and payments.
Here are some of the reasons you may want to free up the equity you’ve built in your home:
Let's Connect
Visit a branch
Use our branch locator to find the address, hours, contact information and directions for your local branch.
Phone us
Have a question? Speak to a Fairstone Lending Specialist now.
8a.m.-5p.m. EST
Monday-Friday
800-995-2274
Ready to get started?
Start with a loan quote, then ask your Lending Specialist about our borrowing options for homeowners.
Terms and conditions:
Fairstone Financial Inc. holds high-cost credit grantor licenses in AB, MB and QC; it has applied for high-cost credit grantor licenses in NL. For license information by province, visit www.Fairstone.ca/HCCG.
For NL and MB residents: Annual interest rates on unsecured personal loans range from 29.99%-34.99%. A non-sufficient funds (NSF) charge of $45 may be applied to returned payments due to non-sufficient funds. If you incur two NSFs within a three-month period or three NSFs within a 12-month period, in addition to the charge of $45 that may be applied to each NSF and until the situation is rectified, (i) you will no longer be able to make your payments by way of pre-authorized debits and (ii) the repayment will be restricted to payments by debit card, phone payments with your local branch, online banking payments through your financial institution, cash and certified cheque. An unsecured personal loan may be cancelled within 14 days of signing the agreement, in accordance with High-Cost Credit legislation in each of these provinces.
Secured personal loans and mortgages:
Interest Rates on secured personal loans range from 19.99%-25.99%, with a minimum loan term of 36 months and a maximum term of 120 months. Interest Rates on mortgage loans range from 14.99%-20.25%, with a minimum loan term of 12 months and a maximum term of 60 months, and amortization periods up to 25 years. Your actual APR will vary based on individual factors including province/territory, the details of your credit report and financial situation, loan type and services provided in order to secure the loan including administration fee, appraisal fee, title fee and solicitor/notary fee. All fees are included in your loan contract and explained to you by our Lending Specialists.
An example of a $40,000 secured personal loan: APR 23.26%, 120-month term, monthly payment of $861 including principal and interest.
An example of a $90,000 mortgage: APR 18.94%, 60-month term, 20 years amortization, monthly payment of $1,371 including principal and interest.
Fairstone Financial Inc. is a provider of personal loans and mortgages and is headquartered at 630 René-Lévesque Blvd W, Montreal, Quebec H3B 1S6, Telephone Number 800-995-2274.
In Ontario, Fairstone Financial Inc. is licensed as mortgage brokerage #10821. In Nova Scotia, Fairstone Financial Inc. is licensed as mortgage lender #2021-3000028. In Manitoba, Fairstone Financial Inc. is licensed as a high-cost credit grantor, license number #85047 (expiry date 20-02-2027).
*Based on our data from our Fairstone Customer Experience Survey (2021 - 2025), rounded down to the nearest whole number.
**Fairstone data 2007–2017.
Fairstone is a leading provider of responsible lending solutions, with a nearly one-hundred-year legacy in Canada. As an operating subsidiary of Fairstone Bank of Canada, Fairstone offers unsecured personal loans, secured personal loans and mortgages to near-prime customers online and in over 250 branches coast to coast.
Contact: 1-800-995-2274
630 René-Lévesque West, suite 1400 Montréal, QC H3B 1S6
Unsecured personal loans
Borrow $500-$25,000 with an unsecured personal loan.
Secured personal loans
Borrow $5,000-$60,000 with a secured personal loan.
First and second mortgages
Borrow up to $600,000 with a first mortgage, or up to $300,000 with a second mortgage.
® Fairstone Financial Inc. is a wholly owned subsidiary of Fairstone Bank of Canada.