Looking to access the equity in your home? Whether it’s for an upcoming renovation project or to pay off bills, we can help.
One form of borrowing money for a major purchase or life event is via a home equity line of credit (HELOC). This allows you to use the equity in your home as collateral for a loan since a home is typically your most valuable asset. At MortgageMeister.com we can help you secure a favourable interest rate on a HELOC with the best terms in Ontario. We’ll be able to fully evaluate the circumstances of your financial situation and discuss your best financing options.
A Home Equity Line of Credit (HELOC) is often the ideal way to fund things such as home improvements, investments, debt consolidation, education costs, income-tax payments, and emergencies etc, since the amount of credit available replenishes itself when you pay off the outstanding balance.
These are some of the benefits of a Home Equity Line of Credit:
- Funds are readily available in case of emergency
- You only pay interest on the balance used not the credit limit
- Secured LOC rates are much lower than unsecured
- Monthly payments as low as interest only
A HELOC could be the ideal thing for your current financial needs. If you’re interested in exploring this popular option of borrowing money our team of professionals at MortgageMeister.com will gladly provide you with all the information needed to decide if it’s the right choice for you. Just give us a call to schedule an appointment or for additional information on how you can access the equity you’ve built up in your home.