Found 2 blog entries tagged as line of credit.

Homeownership has many benefits, including the ability to use your property’s equity as a lending resource.  

Whether you need funding for a renovation or to consolidate debts, a mortgage holder can access home loans and home equity lines of credit (HELOC) through their property. There’s also the option to remortgage your home, which by breaking your existing mortgage and starting a new one, can provide leftover cash through your home’s equity to pay for large expenses. 

If you’re considering employing your home’s equity, here’s what you need to know about HELOCS, home equity loans, and remortgaging.  

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What is a Home Equity Line of Credit (HELOC)? 

If you’d like the flexibility of having a large chunk of change on…

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If your family home lacks space but you don’t want to move, you’ll be joining thousands of other Canadians who have chosen to renovate their properties. Whether you’re adding an extension, overhauling your kitchen, or knocking down walls to create better flow, you can likely count on one thing: you’re about to embark on an expensive project. Don’t fret if your dreams are bigger than your budget—there are a lot of ways to finance home renovations. While it may be tempting to borrow money, just remember you’ll have to pay that loan back, so be sure to make a plan that factors in the potential of further interest rate increases. Here’s how you can pay for upgrades to your property.

1. Take out a personal loan or borrow from family and friends 

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