Getting a home equity line of credit

Author: Andre Ouimet - Mortgage Agent | | Categories: Construction Loan , Debt Consolidation , First Time Home Buyer Mortgage , Income Tax Debt , Mortgage Agent , Mortgage Refinance , Residential Mortgages , Second Mortgage

A home equity line of credit (HELOC) is a secured form of credit. The lender uses your home as a guarantee that you'll pay back the money you borrow.

Home equity lines of credit are revolving credit. You can borrow money, pay it back, and borrow it again, up to a maximum credit limit.

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Original Article Source Credits:   CANADA , https://www.canada.ca/

Article Written By:  NA

Original Article Posted on:  2019-11-26

Link to Original Article:  https://www.canada.ca/en/financial-consumer-agency/services/mortgages/home-equity-line-credit.html

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