Home Equity Lines of Credit

Home Equity Lines of Credit (HELOC)

A home equity line of credit (HELOC)  is an excellent way to fund home renovations or pay off personal debts. A home equity line of credit is also often referred to as a revolving line of credit as it can be used over and over – just like a credit card!

A home equity line of credit is a secured line of credit. As it is secured against the equity in your home, it offers very low interest and low monthly payments. It can even be tacked on to your current mortgage without posing any implications on it.

Benefits of a Home Equity Line of Credit

There are many advantages to having a home equity line of credit.

1. Extremely flexible
2. Low interest rates
3. Low monthly payments
4. Only pay interest on the amount you borrow
5. Can pay down the balance at any time without penalty
6. Can be used for home renovations to increase your home’s property value
7. Can be used to consolidate high interest credit card debts
8. Great way to provide back-up in the case of serious life events i.e. illness, injuries, lay-off etc.
9. Revolving line of credit at your disposal
10. Provides a safety-net for you and your family
11. Simple application process
12. Quick approval

Get Approved Today!

A home equity line of credit provides a revolving cash flow to use as you require and can be a great safety net for you and your family. Contact us today to get started!