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Alpine Credits Home Equity Loan Review

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Take out a second mortgage and get the financing you need with a home equity loan from check your eligibility for Alpine Credits.

Alpine Credits offer home equity loans in amounts from $10,000 to $500,000. Must be a homeowner to qualify. Check eligibility for this loan through LoanConnect.

10.00% - 22.99%

Interest Rate


Max. Loan Amount


Min. Credit Score


Product NameAlpine Credits Home Equity Loan
Interest Rate10.00% - 22.99%
Min. Loan Amount$10,000
Max. Loan Amount$500,000
Loan TermUp to 60 months
Loan SecuritySecured
Turnaround Time24 hours
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Are you looking to leverage the equity in your home to secure financing? If so, you might like to check out a home equity loan from Alpine Credits. This type of loan allows you to borrow against the appraised value of your home minus the amount you still owe on your mortgage.

Since your loan will be secured by your house, your credit score won’t be a deciding factor in whether you get financing. The best part is you can apply with a quick and easy online application and get approved in as little as 24 hours.

How does a home equity loan with Alpine Credits work?

Alpine Credits is an online lender that provides home equity loans to Canadian homeowners. It lets you borrow against the market value of your home minus the amount you still owe on your mortgage. For example, if your home is worth $600,000 and you have $400,000 left to pay on your mortgage, you may be able to get as much as $200,000 in home equity financing.

All you need to do is submit your application online with some supporting documentation to get started. You may also need to have your home appraised to prove its worth. From there, you can get approved for financing in as little as 24 hours, with at least a portion of your funds delivered in less than a week.

What types of fees does Alpine Credits charge?

There’s no clear outline for what types of fees you’ll need to pay to take out a home equity loan with Alpine Credits. That said, the company does indicate that you may need to pay associated costs such as legal fees, appraisal and brokerage fees that will be built into your annual percentage rate (APR).

The interest rates that you’ll pay on your loan will also be higher than what’s on offer from banks and other lenders. For example, you’ll typically pay between 10% to 22.99% in interest with Alpine Credits. Your APR rates can also be as much as 7% to 10% higher than the bank.

What do customers say about Alpine Credits?

Alpine Credits is fairly well-rated by customers and independent review sites alike. Many customers praised the fast turnaround on their applications, indicating that they were approved to borrow in situations where no one else was willing to provide financing. Customers also seemed pleased with the high level of customer service provided by the company.

Other customers voiced their concerns about the high proportion of fees they were required to pay on their home equity loan. Several also indicated that their interest rates were much higher than what they would have paid with the bank. A few customers also complained that the agents they were dealing with at the company were rude or difficult to get in touch with.

What makes Alpine Credits unique?

The main feature that makes Alpine Credits unique is that it’s a fast and efficient way to get financing. You can apply in a matter of minutes and you’ll often be approved within a couple of days as long as you have equity in your home. From there, you’ll typically get your money deposited into your bank account within one week.

Another feature that makes Alpine Credits unique is that it doesn’t heavily weigh your credit score into your home equity loan decision. The only downside is that you’ll pay more in interest for the convenience of getting a quick approval in situations where you might not be able to get financing otherwise.

Do I qualify for a home equity loan with Alpine Credits?

Eligibility requirements

To apply for a mortgage with Alpine Credits, you need to meet the following criteria:

  • Be at least 18 years old (and 19 in some provinces)
  • Be a citizen or resident of Canada
  • Own a home in Canada with a market value that’s worth more than your mortgage.
  • Be free from bankruptcy or other forms of unmanageable debt.

Required documents and information

  • Government-issued ID. You’ll have to show documents to prove your ID and address (such as your driver’s licence or passport and a utility bill).
  • Proof of homeownership. You’ll need to prove that you own your home or are in the process of paying down your mortgage.
  • Proof of market value. You’ll have to be able to demonstrate the true market value of your home through an appraisal or other documentation.
  • Credit report. You’ll need to authorize Alpine Credits to pull your credit report so that the company can assess your creditworthiness.
  • Statements of income. You may be required to submit documents like pay stubs and letters of employment to verify how much money you make.
  • Other financial information. You could be asked to provide a list of your debts and assets, along with proof that you can pay for your closing costs.

How to apply

If you’re ready to apply for a mortgage with Alpine Credits, you’ll just need to follow these simple steps.

  1. Fill out the online application. Please note that you will be redirected to the LoanConnect website to complete the application to check if you qualify for an offer from Alpine Credits.
  2. Use the online application to provide personal information like your name, email address, proof of ID and relevant documents.
  3. Review and submit your application.
  4. Get verified and work with Alpine Credits to negotiate the terms of your mortgage if you meet the eligibility requirements.

What are the benefits and drawbacks of getting a home equity loan?


  • Easy application. It’s possible to apply in a matter of minutes with one simple and straightforward application.
  • Quick approval. You may be approved for financing in as little as 24 hours as long as all of your documentation is in order.
  • Fast deposits. Once approved, your money will typically be deposited into your bank account in as little as one week.
  • Financing for self-employed. You may be able to get financing if you’re self-employed as long as you own your own home.
  • Bad credit doesn’t matter. You’ll typically still be able to qualify for a loan if you have bad credit as long as you own your own home.

What to watch out for

  • High interest rates. You’ll pay around 10% to 22.99% in interest with Alpine Credits, which is likely more than you will with the bank or another private lender.
  • High fees. Between 5% - 8% of your APR will cover closing and admin fees.
  • Uses your house as collateral. You may have to foreclose on your house if you can’t make your payments.
  • Not available in some provinces. You’ll only be able to access home equity loans with Alpine Credits if you live in BC, Alberta or Ontario.
  • No home equity lines of credit. Alpine Credits doesn’t offer home equity lines of credit, so you’ll have to pay full interest on your loan amount as soon as you get it.
  • No in-person service. You’ll have to fill out your application and manage your loan from your computer, which will require you to be a little bit tech-savvy.

I got the loan. Now what?

Once you have your loan in your bank account, you can spend it on whatever you want. Common ways to spend a second or third mortgage include paying for post-secondary education, putting money down on home renovations, consolidating your current debt or investing in your business.

As soon as your money is deposited, you’ll have to start making your monthly payments. These will include your monthly interest and a portion of the fees you’ll have to pay (which will be built into your annual percentage rate). Your payments will be automatically debited from your bank account on the same day of each month, based on what you agreed on with Alpine Credits.

What if I can’t make my payments?

There’s a real risk that you might not be able to make your payments if you take out a second or third mortgage. This is because you’ll still have to pay off your first mortgage at the same time that you’re making payments on your subsequent loans.

If you can’t make your payments, you’ll likely have to foreclose on your property to make ends meet. This means that your home will be sold off to pay your lenders and you’ll typically get whatever’s left over.

Bottom line

Alpine Credits allows you to use the equity in your home to secure financing quickly and easily. That said, it comes with high interest rates and fees compared to the bank and other lenders. Find out what you need to do to apply for a home equity loan with Alpine Credits and find out how much you can qualify for.

Frequently asked questions

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