Logo Patrimoine 360

Facebook

Twitter

Copyright 2019 Patrimoine 360.
All rights reserved.

1 888 766-7738

Call Us For Free Consultation

Facebook

Linkedin

Search
Menu

Home Equity Line of Credit (HELOC)

Finance your projects, renovations or debts!

Real estate investment

Refinancing and renewal

a

Financial Services

Loan limits

Our brokers

a

Carreer

The most flexible mortgage tool on the market.

The net value of your property allows you to personalize your mortgage. Several options are available on the market. For example, simultaneous to your standard mortgage, you can obtain 1,2 or 3 Home Equity Lines of Credit (HELOC).

Economic and safe operation

The HELOC is very similar to a personal line of credit, except that the interest rate is much lower since the bank secures the HELOC with your property.

Up to 65% of the value of your property

The maximum amount that can be used for a HELOC is 65% of the real value of your home. The monthly interest rate is charged only on the amount you have borrowed, not the total amount. Moreover, the HELOC is by definition an open mortgage, meaning you can pay it down, or pay it off whenever you wish (there is no penalty). In the event that you encounter financial difficulties, you also have the option of just paying the interest. These lower payments will allow you to use the extra capital for other, more costly, debts.

An advantageous and flexible solution

There are numerous advantages to a HELOC. They provide flexibility and capital availability for works (renovations etc), purchases, investments, or to simply consolidate other debts into one low-interest loan.

To find out more about how a HELOC might be advantageous for you, contact a mortgage specialist at Planiprêt.

Contact us now

Free estimate

Je suis :