Lines of Credit

Unsure if a home equity line of credit (HELOC) is right for you?  Contact us to learn more!

Quick Information About Home Equity Lines of Credit (HELOC)

• Also known as Home Equity Line of Credit or HELOC

• Always open variable rates

• Must be conventional (ie. minimum 20% down payment or equity available in property)

• Must have exceptional credit (typically higher than a 700 beacon score)

• Rate fluctuates with prime

• Simple interest versus compound interest

• Typically recommended for experienced home buyers and investors

• Coupled with strong budgeting skills and a well executed financial plan can be used to accelerate retirement saving (speak with a qualified financial planner to learn more on how to accomplish this)

• Closed Mortgages
• Commercial Mortgages
• Conventional or Unconventional
• Fixed Rate
• Lines of Credit
• Open Mortgages
• Variable Rate