Tap into Your Home’s CapitalA HELOC (home equity line of credit) is an alternative way to borrow. With a HELOC, your home’s equity becomes collateral to provide you with a supply of credit. You decide how much credit you need, when you need it, then repay it when you can. There is never a penalty to pay off your balance. A HELOC is flexible the way a loan isn’t. Once approved, a line of credit can be accessed any time, for any amount up to your limit. With a loan, you need to re-apply every time you want more funds.
HELOCs have low interest rates (as low as Prime Rate +0.50%), making them less costly than credit cards and personal loans.
Butlermortgage.ca has access to more than 45 Canadian lenders who offer a wide range of home equity products for all types of borrowers.
- First Position uninsured HELOCs up to 80% of your Home Value
- Second Position Equity Lines of Credit up to 80% on Home Value
- Debt consolidation can turn high-interest payments into one affordable amount
- Small business owners facing slow growth or a transitional period have better management options
- Homeowners can renovate for investment purposes and receive a return on their investment