Secured Line of Credit
Unlock Flexible Financing with a Secured Line of Credit
At Nambiar Mortgages, we understand that life comes with opportunities and expenses that don’t always fit neatly into a budget. Our Secured Line of Credit is a great option if you need money over time or want a choice of payment options. It uses the equity in your home or property to secure your borrowing power.
What is a Secured Line of Credit?
With a Secured Line of Credit (also sometimes called a Home Equity Line of Credit, or HELOC), you can borrow against the equity you have established in your home. Unlike a traditional loan, you can tap money as needed (up to a pre-approved limit), paying interest only on the amounts you use. Up to an approved limit, and pay interest only on the amount you use.
Key Benefits of a Secured Line of Credit
Reduced Interest Rates
Securing your line of credit with your ownership means much lower interest rates than unsecured credit lines, such as personal loans or credit cards.
Access cash when you need it
You must withdraw funds from time to time and can do so up to your credit limit, whether for home renovation costs or other significant expenses, such as education or medical bills, or debt consolidation or other primary financial purposes, or less urgent needs.
Payment Flexibility
Choose between interest only or more, with no deposit, no matter how. You can pay it back and borrow again without reapplying.
Optimize Cash Flow
Deploy the money as a cushion or to cover larger expenses.
Is a Secured Line of Credit Right for You?
Please speak to one of our mortgage professionals at Nambiar Mortgages to determine whether a secured line of credit makes sense for your financial needs. It works great for homeowners who:
- Own a lot of home equity.
- Constant access to funds is needed for different uses.
- Would like the flexibility to borrow and repay on a revolving basis.
- Look to combine high-interest debt.
Why Choose Nambiar Mortgages?
Expert Support: We remove the headache from the process with clear, tailored advice.
Competitive Rates: Our relationships with top lending institutions enable us to ensure competitive terms!
Tailored Solutions: We understand that you are not identical to the next person with the same debt or financial difficulty, and so we tailor plans to suit you.
Trusted Experience: We support clients in Ontario in leveraging even more of their home equity with over two decades of mortgage industry experience.