Mortgage Edge Dan (Tasos) Efstatheu Woodstock / Residential and Commercial
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                                      Home Equity Line of Credit ​   ​​

Home Equity Line of Credit 

 A Home Equity Line of Credit Can Help to Access Equity in Your Home At The Lowest Possible Cost.
What Is A Home Equity Line of Credit (HELOC)


HELOCs allow you to access your home's equity and withdraw it in cash or use it for whatever purpose. The interest rate is variable (Usually Prime Rate plus/minus select basis points) and you can access the funds whenever you want. A Home Equity Line of Credit works just like a credit card with a maximum credit limit, but doesn't expire as long as it's registered against your home.
 
How Much Money Can You Obtain with A HELOC​
Most lenders can offer a home equity line of credit (HELOC) in the amount that is up to 80 per cent of the property's value, determined by an appraisal.​

Advantages Of a Home Equity Line Of Credit 
Home equity lines of credit (HELOCs) are popular products used by homeowners who need to access their home's equity. Since this type of loan is an open line of credit that you can use at any time, it's a relatively flexible product - although that flexibility comes with some important caveats. Here are a few advantages to using a HELOC.
​
1. HELOCs allow you to quickly access your home's equity without refinancing.
2. You can choose whether or not to pay interest on the full amount of the line that is available.
3. HELOCs are an open credit product, meaning you can close them at any time and you don't have to deal with prepayment penalties.
4. HELOCs have a low interest rate compared to a home equity loan, which can give you a lower monthly payment.
5. You will only be charged interest on the amount that you use, which means you don't have to pay interest on an entire mortgage.
6. Your line of credit may have its own limit, which could be more than what you currently owe on your mortgage.
 
Getting A Home Equity Line of Credit With Bad Credit
The good news is there are still line of credit options for people with bad credit. We work with lenders who offer lines of credit to those people with bruised credit. Check out the Equity line Visa Credit Card:
  • The Equityline Visa credit card is best suited for homeowners looking to secure credit of between $10,000 and $100,000 and who have bruised credit or don’t qualify conventionally.
  • Rates between 5.99% and 11.99% depending on real estate collateral and borrower's credit
  • Low monthly payments
  • Earn 1% CashBack every time you make a purchase.
  • Great for home improvement, debt consolidation, business financing and more
 
Contact
 Tasos (Dan) Efstatheu 
License # MO8006633 | Mortgage Edge License #10680 
​Email: dan@mortgageedge.ca
Email: info@firstratemortgages.ca
​​MAIN: (519) 533-7448
Office: (519) 290-2130
​110 Chippewa Cres
Woodstock, ON N4T 1A1
 
Photo used under Creative Commons from wuestenigel
  • Home
  • About Dan
  • About Mortgage Edge
  • Testimonials
  • Apply Now Online
  • Mortgage Services & News
  • Purchase & Purchase Plus Improvements Program
  • Mortgage Financing for Investment Property Or A Second Home
  • First Time Home Buyer Programs
  • Mortgage Refinance
  • Mortgage Renewal
  • Mortgage For Self Employed
  • Brochure / Dan Efstatheu
  • Mortgage Pre-Approval
  • Alternative Financing/Bruised Credit
  • Cash-Back Mortgages
  • Downpayment
  • New to Canada Mortgage Programs
  • Home Equity Line of Credit
  • Bridge Funds
  • What are Debt Service Ratios
  • Apply Now Online
  • Mortgage Switch/Transfer
  • Link For Home Buyers
  • Commercial Mortgage Services