Line of Credit

A Home Equity Line of Credit (HELOC) provides instantly available funds that can be spent any way you like (RESP or RRSP contributions, renovations, vacation, cottage, investment properties etc.).

 

The HELOC is secured against your property, so the interest rate is much lower than an unsecured line of credit.

 

The HELOC is very attractive to investors or self employed individuals as the monthly payment required is very low (interest only). Clients that have a HELOC also have the added benefit of a fully open mortgage that can be paid down as much as they want at any time with no penalties. Also, you are able to re-draw the funds from the line of credit at any time up to the credit limit. It is the same concept as a credit card, but with a much better rate! As well, you only pay interest on the amount of money that you have used, not your total credit limit.

 

You are able to borrow up to 65% of the value of your home. You can keep the line of credit for as long as you own the home! So if you pay it off and need money quickly, all you need to do is write a cheque! You do not have to apply for a new loan!

 

With most lenders, if at any time you wish to convert your HELOC to a regular mortgage, you can do so with a simple phone call.

 

HELOC's can be used to purchase a new principal residence or a rental property. If you already own your property, we can look at placing a HELOC on your existing property, so that you can use the equity that you have built however you like!

 

Apply Now

Apply Now

Just as an insurance broker finds you the best deal on insurance, a mortgage broker finds you the best deal on mortgage.

Stacy Bell-Powell

Suite #102
2016 Sherwood Drive
Sherwood Park AB Canada
T8A 3X3

p: 780.995.7099
t: 866.995.7099
f: 780.401.3379

 
 

Mortgage Renewals

Don't just sign your banks first offer, let us help you get the best rate!

 

Mortgage Refinance

Debt-Consolidations, Renovations, Investments? Let's get you the money and the rate you want!

First Time Home Buyers

Get a fast Pre-Approval, Lock in a Low Rate, and Shop with Confidence! We are Canada's mortgage experts.

From my Customers

Little Skeptical

This is what my customers have to say.