You’ve Worked Hard to Build Equity in Your Home. You are proud of your home ownership accomplishment but you gave some debts that you have accumulated. Maybe you want to use your Equity to work hard for you.
If you own your home, the equity you have accumulated may be one of the most cost-effective ways to lower your borrowing costs. In most cases, Home Equity line of Credits (HELOC) can offer you a lower interest rate compared to other types of loans while providing you with access to credit to pay out high interest loans, unexpected expenses, and home improvement projects or consolidate debts, college tuition and many more debt obligations.
If you are thinking about refinancing your mortgage a good option would be a HELOC. Once approved you have access to the funds at any time without having to re-qualify.
Interest rate using your home as security may result in lower interest rates compared to other unsecured credit products. The rate is usually tied to the prime rate.
You can withdraw as much as you need up to your credit limit, and whatever you bay down pay down will increase your available limit.
With a Home Equity line of Credit, once you qualify you will have access to the funds.
Contact me if you would like more information at www.devonjones.ca or 1-855-227-5663
Mortgage Agent M08003225
Dominion Lending Centres Altra Inc.
335 Bayly Street West, Ajax, ON L1S M2