A HELOC (or Home Equity Line of Credit) is a revolving amount of credit secured against your home. With a HELOC, you get approved for a line of credit from which you are able to continuously withdraw cash from as needed. The interest rate is variable and you only pay interest on the funds you withdraw. If you have available equity in your home and are looking a flexible product that will allow you to pull out large sums of cash when needed, a Home Equity Line of Credit may be your best option. Speak with an Easy Mortgage Strategist to get the best HELOC products and rates in Ontario.
Home Equity Loans Approved and Funded in Less Than a Week!
Home equity loans are a great option for homeowners with poor credit or low income. Different from a HELOC, the interest rate is fixed and is set once the loan is agreed upon and can only change at the time of renewal. In many cases, strong income isn’t a requirement as long as there is equity available in your home. At Easy Mortgage we can get you a Home Equity Loan up to 90% of your property value and get you the funds within 5 business days.