Home Equity Line of Credit
A Home Equity Line of Credit is an excellent alternative to a traditional mortgage for clients that are looking for more flexibility when financing their home and paying their mortgage at their own pace. It provides borrowers with an innovative and convenient product whereby a revolving line of credit and fixed term mortgage products are all under one credit limit. A Home Equity Line of Credit lets you determine your own monthly payments - as low as interest only, or as much as you want. A Home Equity Line of Credit is simply a revolving Line of Credit that allows you to use the equity in your home to borrow money. You may never need to apply for credit again because as your mortgage balance decreases, your available credit increases.
You can use your available credit to :
- Take a vacation
- Purchase a vehicle
- Pursue additional real estate and other investment opportunities.