Jay and Nima are true professionals!!! They are super easy to work with and take the worry out of the whole process of dealing with the bank I highly recommend using Canada Lends for your next mortgage From beginning to end they talked me through the whole process and helped me understand the requirements and documents that the bank needed Thanks Jay and thank you Nima because of you me and my family are loving our new home!!! I look forward to doing more business with Canada Lends in the near future
Canada Lend provided me with exceptional customer service. Stalin provided me with a speedy approval, very knowledgeable, very responsive. Thanks to Stalin!
Since working with Matthew, he has met and surpassed my expectations. He has taken the time to really know my needs, which gives me every confidence that not just my financial goals are well understood, but also my comfort level. Matthew regularly provided updates and was always available to answer any questions or to explain options. Matthew’s fine work and guidance has helped with transitioning us into seeing our plan for retirement come to life. And I for one, look forward to continuing to work with him on our next phase!!
Working with Matthew was a great pleasure. Not only did he take the time to make sure I understood all of my options; he was also efficient finding the right lender for me and a great rate! I couldn't be happier.
Stalin did a good job answered all my questions and concerns it was a nice to work with such a professional team!
A Home Equity Line of Credit, or HELOC as it’s known, allows you to borrow up to a certain amount of the appraised value of your home at low mortgage interest rates. You can borrow as much, or as little, as you need and only pay interest on what you use.
As you pay down the principal on your mortgage over time, the line of credit limit increases, giving you access to more of your money. This can create breathing room to accommodate emergency expenses, credit management ,or even home renovations.
A HELOC can be used in addition to your mortgage or as a stand-alone product. That means you can refinance your home by using a HELOC; with the remaining balance being paid as a fixed-term mortgage!
It’s that flexible!
A home equity line of credit and credit card are very similar in some ways but there are distinct advantages by choosing to secure a HELOC.
For example, you get a much better interest rate coupled with a flexible repayment schedule and fixed spending limit (based on home equity).
Some of the benefits of a HELOC that homeowners find most attractive are:
A home equity line of credit gives homeowners the freedom to spend their money when they like and repay it in a way that best
suits their financial needs. It is the ideal choice for homeowners who need continuous access to equity on their own terms.
Not only is the repayment schedule flexible, but the interest rate you pay on a home equity loan, while higher than that of a first mortgage, is drastically lower than what you’d pay on a credit card or other consumer loans.