Home equity lines of credit are beneficial for managing life’s unexpected and major expenses with flexibility.
Are you planning a home project, or did an unexpected car maintenance expense come up? Home equity lines of credit can be a viable way to tackle these and other big costs. A line of credit essentially gives you money “on demand,” and if you qualify, you can use these funds up to a maximum amount for a pre-determined time period. When you take out lines of credit, you only pay interest. Following payback of the borrowed funds, the same amount is replenished for you to borrow.
Flexibility is the key benefit to home equity lines of credit – you get to choose when you take out the money as well as when you pay it back to the lender and repeat the process. As long as you stick to the terms of the borrowing agreement, including paying off the amount you borrow on time and completely, you can continue to take advantage of your credit line.
When you work with us at Centum Mortgage Store, Ltd., we can give you access to different options for home equity lines of credit (HELOCs), including some that even major banks and lending institutions don’t offer. Our exclusive suite of products ensures you get the best rates for your credit profile and situation in Kelowna, British Columbia. One phone call and application are all it takes for you to conveniently gain access to multiple options, and we shop the market for you.
As part of an independently owned and operated company of the Centum network (the most trusted name in Canadian lending), we offer the flexibility and expert counsel you want from your lender. For more information about securing a home equity line of credit, contact us today!