ENB Insights

In our most recent online poll, we asked our customers: what is preventing you from applying for a Home Equity Loan or Line of Credit?

Do you feel like you are being bombarded with Home Equity advertisements from banks and credit unions you’ve never even heard of at every turn? While you may be tempted to apply for these offers, it may actually be more beneficial to consult with your banker where you have your banking relationship.

No matter how experienced you are, buying a new home is always daunting. A main reason is the commitment involved.  When taking out a mortgage, you are literally putting your home on the line because failure to make payments puts your home at risk.  For that reason, it’s important to determine what you can realistically pay for your next home.

Are you dreaming of owning your own home? Are you thinking that you can’t afford to buy a home so you continue to pay rent? Buying your first home may be more affordable than you think.

In our most recent online poll we asked, “Is it wise to use a home equity loan for general living expenses?” The majority of respondents said “no,” and we would agree. Using a home equity loan for general living expenses creates an opportunity for you to spend more than you earn.

Have you or a loved one ever received a call, email, or text message from someone claiming to be from the government? If so, this may have been a government imposter scam. These scammers attempt to get their victims’ money and personal information by posing as a government official, and their targets often include elderly individuals.

Looking for your first home can be a stressful process. What seems to include only one or two decisions can actually turn into a much more complicated process, leaving you feeling overwhelmed and the whole process feeling impossible. Luckily, our mortgage team at ENB has compiled 5 tips for first-time homebuyers to follow that will make the process go a little smoother.

This is a question we receive quite often at ENB. However, before we talk about how a home equity loan and home equity line of credit are different, it’s important to note how they are the same.

With today’s economic uncertainty and high inflation, things like maintaining mortgage payments can be difficult. It's hardships like these that fraudsters often attempt to take advantage of in order to steal your money or your home.

You want a home that’s a good fit for your family. You could renovate your current place, or you could move. Which is the right option for you?