Home Equity Loans

A Home Equity Line of Credit (“HELOC”) is a credit line secured by your home. HELOC’s have a limit but unlike refinancing, are utilized on an as needed basis. Available HELOC limits are calculated as follows:

80% of your home value (minus) mortgage amount

HELOC rates are variable (fluctuate with Prime) HELOC payments are based on “interest only” which means that your monthly maintenance rate can be substantially reduced. A hybrid alternative to HELOC is the “All in One” This works in tandem with your first mortgage and as you pay it down, more funds are immediately available to you.

Like REFINANCING, there are many advantages to obtaining a HELOC or an ALL IN ONE:

  1. Investments
  2. Startup Capital
  3. Financing Home Improvements or Renovations
  4. Tax Strategy (ask me about the Smith Manoeuvre)

I’m excited to talk to you more about this or answer any questions you may have. Call me anytime (403) 588-8657

 

 

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