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Equity Line of Credit

A home equity line of credit is a secured form of credit, using your home as a guarantee for repayment.

A home equity line of credit is a secured form of credit, using your home as a guarantee for repayment. This form of credit allows home owners to borrow against the equity in their home. You are able to borrow up to 80% of the value of your home.

Scenario:

Current Home Value: 950,000

Current Mortgage: 200,000

Total Equity: 750,000

750,000 x 80% = 600,000

Based on this scenario, up to 600.000 can be borrowed.

These types of credit usually have an interest only payment option. Borrowing rates are usually low, as it’s secured against your home.

These funds can be used for many purposes and funds are readily available. We believe every home owner should have an equity line of credit. It is vital in times uncertainty and emergencies. If the line of credit is not used, you are not charged or owe anything.

Ready to Apply ?

Download an application form or apply online today.

Apply Online

To apply online, simply complete our application form and we will back to you as soon as possible.

Apply Online

Apply Online

Simple download and complete the application form ans submit to our near branch office.

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Speak to a Quanto specialist at (416) 737-8989