Using your home equity to get a line of credit
YOUR MORTGAGE BROKER FOR HOME EQUITY LOANS – When a major expense comes up, it’s not unusual for people to seek a line of credit. But what most people don’t know is that there’s a great alternative to a traditional line of credit that the banks would offer for a home loan calgary. You can use the equity you’ve earned in your home!
Real World Mortgage can help you get a home equity line of credit (HELOC), one of the easiest and most cost-effective ways to secure a line of credit. And they’re flexible too. A HELOC is completely open and doesn’t expire, so you can set it up and reuse it anytime. You also have the option of paying the minimal interest on your balance, or paying back the entire loan in one lump sum. You won’t face any of the restrictions of a traditional line of credit. A HELOC is easy to pay back, and is a great source of investment funds.
With a HELOC, you can use the equity in your home for:
- Renovations
- Debt consolidation
- Tuition
- Financing a car
- Purchasing a second home
- Income property
- Investments
Plus, when you use your HELOC for investments, you can write off your interest payments, which is a huge advantage over an unsecured investment loan.
Call Real World Mortgage today to learn more about a home equity line of credit. We can tell you quickly whether or not a HELOC is the right option for your needs.