Get extra funds
when you need them
Get extra funds
when you need them
Specializing in home equity line of credit
We can help you access the value of your home through a home equity line of credit. These revolving credit products allow you to access your home’s equity, and our assistance as capable mortgage brokers ensures you get a great interest rate and the ideal fit for your lifestyle and needs.
If you have 65% of your home’s value in equity, you can use it for a line of credit. This helps you access the value of your investment in a safe and reliable credit product.
While a home equity loan may be right for some, a line of credit acts as a revolving credit product, so you can choose the product that works best for your needs.
Your credit doesn’t need to expire so long as you still have equity in your home. This helps you make long-term plans and investments in your future.
When you might need a home equity line of credit
A home equity line of credit is the ideal financing solution for home upgrades and renovations as it allows you to secure funding based on the equity of your home while also increasing its worth.
When your kids are going off to college, or when you want to upgrade your education, borrowing against the value of your home can secure a lower interest rate.
When you have substantial home equity, a loan can be a great way to reduce and consolidate high-interest debt.
Qualifying for a home equity line of credit
A home equity line of credit relies on you having current equity in your home. Generally, the more equity you have, the better.
A good credit score will help ensure you get a low interest rate with your home equity loan.
Your down payment will be the first of your finances to become equity in your new home.
The less debt you have and the more income you earn, the better situated you will be for a home equity loan.
A mortgage broker helps secure you the best mortgage rates by working with multiple lenders. This statement holds true with a home equity line of credit, which means that you get the peace of mind you need to breathe a bit easier when deadlines are approaching or your life circumstances are changing.
Generally, you can borrow up to 65% of the value of your home minus the amount owing on your mortgage.
You will need at least 20% of the value of your home as equity or as a down payment. If you plan to use a standalone home equity line of credit as a substitute for a mortgage, you will need at least 35% of the value of your home as equity or a down payment.
A home equity loan is a one-time lump sum payment, which can be up to 80% of the value of your home. A home equity line of credit (HELOC) is a revolving credit product worth up to 65% of your home’s value.
