Lines of Credit
By leveraging the equity in your home, you may be able to secure a line of credit with an interest rate lower than most other credit products.
Depending on the amount of equity you’ve invested in your home purchase, less any outstanding debts registered against your property, you may qualify for a secured line of credit. This is instant money that you can use for anything you like.
Generally Speaking, Benefits of a Secured Line of Credit include:
- Apply once and it’s set up for your future use.
- Reusable even when it’s been fully paid; you won’t have to reapply.
- Easy access to your line of credit funds.
Saves you money:
- Using the equity in your home may result in a lower ‘secured’ interest rate, and a higher credit limit.
- Make interest payments only on the funds you use, not your total credit limit.