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A home equity line of credit is a great option when homeowners are looking for some extra cash to do some improvements or renovations, put kids through school, vacation, and much more. In order to qualify for a home equity line of credit, homeowners need to have some equity built up in their homes. The lines of credit are typical borrowed on the equity of your home so without it you will need to look at other options of securing borrowed funds.
Lines of credit are fantastic to have and often the interest rates can be much lower then borrowing or using money off your credit card. Credit cards typically have high interest rates therefor it may take you longer to repay the borrowed money. A home equity line of credit can typically be attached directly to your bank account so you can use it and have access to the funds whenever you want.
Watch this episode with real estate agent Joe Terceira, and mortgage broker Tracey Brock of Dominion Lending Centres where she will discuss some options for a home equity line of credit.
For more information on mortgage financing or if you need a mortgage broker, contact Tracey Brock of Dominion Lending Centres.
Mortgage Broker M09001257
Fantastic Properties For Sale In Mississauga, Brampton, Milton, Oakville, & Toronto
Joe Terceira / Sales Representative
Home Equity Line Of Credit