Home equity loans in Winnipeg

Home equity loans allow homeowners to tap into your home's value for affordable credit and lower interest rates.
Convert home equity into money you can access for debt consolidation, home repairs, large expenses and more. Apply for a home equity loan up to $400,000 online or at your local branch in Winnipeg.

Winnipeg Branches

  • km
    Suite
    Winnipeg, MB R2H 0G2
    Branch # 630011
    Closed until Monday at 9am
    X
    1
  • km
    Suite
    Winnipeg, MB R2C 5K5
    Branch # 630012
    Closed until Monday at 9am
    X
    2
  • km
    Suite
    Winnipeg, MB R2V 3C8
    Branch # 630014
    Closed until Monday at 9am
    X
    3
  • km
    Suite
    Winnipeg, MB R2M 3V7
    Branch # 630017
    Closed until Monday at 9am
    X
    4
  • km
    Suite
    Winnipeg, MB R3K 0Z1
    Branch # 630024
    Closed until Monday at 9am
    X
    5
Use our locator to find a location near you or browse our directory.
  • km
    Suite
    Winnipeg, MB R2H 0G2
    Branch # 630011
    Closed until Monday at 9am
    X
  • km
    Suite
    Winnipeg, MB R2C 5K5
    Branch # 630012
    Closed until Monday at 9am
    X
  • km
    Suite
    Winnipeg, MB R2V 3C8
    Branch # 630014
    Closed until Monday at 9am
    X
  • km
    Suite
    Winnipeg, MB R2M 3V7
    Branch # 630017
    Closed until Monday at 9am
    X
  • km
    Suite
    Winnipeg, MB R3K 0Z1
    Branch # 630024
    Closed until Monday at 9am
    X

Benefits of a home equity loan

Money you can access

Home equity can be a source for financing, providing homeowners with maximized borrowing power.

Lower interest rate

Access lower interest rates compared to credit cards and unsecured personal loans.

Fixed interest rate

A fixed interest rate over a set repayment period means your monthly payment won’t change.

Longer repayment terms

Spread loan payments out over time with loan terms ranging from 1-5 years and amortization periods up to 30 years.

Home equity loan options

Secured personal loan

Secure your personal loan using home equity to access a lower interest rate and more money compared to an unsecured loan.

Loan amount: $5,000-$60,000

Amortization period: Up to 10 years

Term: 3-10 years

Benefits:

  • Lower loan amounts
  • Quicker home equity loan application process
  • Shorter repayment term
  • Fixed interest rate

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woman banking with Fairstone from her computer

Second mortgage

Maintain your existing mortgage and take out a second mortgage to access additional funds by leveraging your home equity.

Loan amount: Up to $125,000

Amortization period: Up to 20 years

Term: 1-5 years

Benefits:

  • 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

Take out a new first mortgage to pay off your existing mortgage. Your new mortgage can be for a larger amount than your previous mortgage, giving you access to additional funds.

Loan amount: Up to $400,000

Amortization period: Up to 30 years

Term: 1-5 years

Benefits:

  • Higher borrowing limit and lower interest rate
  • Only one reoccurring mortgage payment
  • Flexibility to choose your own term from 1-5 years
  • Fixed interest rate

applying for a loan with Fairstone from a phone

Home equity loan tools and resources

Home equity loan calculator

Use our home equity loan payment calculator to estimate monthly payments on a second mortgage or mortgage refinancing.

How to get a loan from Fairstone

Familiarize yourself with the application process and necessary documents needed to get a home equity loan.

Fairstone: A Trusted Canadian lender

As a trusted Canadian lender for nearly 100 years, Fairstone is committed to providing financial products and services that enable Canadians to achieve their goals.

Whether you get a loan online or in branch, you’ll receive one-on-one service from a knowledgeable Lending Specialist. Our team is available when you need us, from coast to coast.

How to get a home equity loan

  • step 1

    Contact your branch

    Call or visit your local branch to start a homeowner loan application. You can also start with a loan quote but will need to let your Lending Specialist know you’re interested in a loan secured against home equity.

  • step 2

    Discuss your options with a Lending Specialist

    Your Lending Specialist will explain our secured personal loan and mortgage refinancing options, and walk you through the application process.

  • step 3

    Complete the loan application

    Once you have submitted your documents and been approved, you’ll have access to your home equity loan. Typically processing time is 3-5 days.

Home equity loan FAQ

Interested in learning more about loans?

Try a personalized loan quote or explore our financial tools and resources including loan calculators, FAQs, blogs, videos and more.

Search for answers, tips, tools and resources to help you reach your financial goals.

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