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Home Equity Line of Credit Toronto

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Home Equity Line Of Credit In Toronto (HELOC)

How Home Equity Line Of Credit Work For You

It is a type of credit that enables you to tap into funds at a much lower rate than credit cards or personal loans. With HELOC your home acts as collateral. Basically, as you pay off your mortgage your home equity rises and then that equity is used to secure your loan. This home equity line of credit in Toronto is somewhat similar to a second mortgage or a credit card but with better rewards. Since your home is the collateral that ensures that you pay off the loan, you are able to get an amazing low rate.

Like a Credit Card, But With Better Rewards

When it comes to making payments for the loan, the process is pretty much the same as like with a credit card. You need to make at least a minimum payment on a monthly basis and the only interest charges are on the money that you take out. For ease of use you can set up an automatic minimum payment option through your chequing account so you don’t miss any payments. It is very easy to use and is a popular credit option in Canada.

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Variety Of Rates For Home Equity Line Of Credit In Toronto

Tapping into the additional pool of money can help out with a lot of different things. Perhaps you have been planning a much needed renovation project, want to consolidate debt, pay for school or cover medical bills. Whatever your reason may be, we can help you in acquiring this additional funding. By choosing to use your home equity line of credit you are making one of the most affordable and smart decisions.

At Toronto Mortgage Brokerage we offer you flexible payment options, no restrictions on your use of the home equity line of credit, no termination period and more.
Are you thinking about renovating your home? Or maybe starting a college fund for your children? Or perhaps you have high interest debt that you’d like to pay off? If you own a home and you want to borrow money, using your home’s equity is one of the most affordable ways to do it.

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Sean Hammond
2019-08-29

I had to port a mortgage to a new condo, Leon had excellent knowledge to get me through the approval process. When the bank made an error, Leon was quick to contact them to make sure everything was done right and on time. He is very professional and courteous and I recommend his service to anyone who wishes to apply for a mortgage.

Ronald McDonald
2019-08-27

Giving them 5/5 stars. Massoud helped me with my mortgage and he never missed a beat. He made the process very straightforward as a first time home buyer. Shopped around for other mortgages but he was always the first to get things for me. Highly recommend him

Shannon Jones
2019-08-23

I was looking to renew my mortgage and my previous lender was less than willing to do anything to keep my business. So I started to look for another brokerage to do business with and Certified Mortgage Broker stood out purely based on my interactions with Massoud. Massoud was professional and clearly had a keen sense of customer service; which I make a high priority when doing business with anyone since I'm in the customer service business myself. Peter rolled out the red carpet for me, walked me through my options, inquired about my plans with my current property, give me opinions and facts about rentals in the area, sales/purchases. In some respects he gave me more information about real estate than my real estate agent has!

Glen Plummer
2019-08-20

Selling and buying a home is a stressful experience and Leon with CMB in North York took all of the stress out of arranging the financing. He was very professional and clear about what I needed to provide to him. He used this information to arrange the best mortgage option on our new home, arranged the bridge loan to cover the closing period differential, and arranged closing out the mortgage with the previous lender.. Our experience with Leon is far better than the local in-person brokers that we contacted previously and Leon has helped us with a mortgage renewal in the past with the same excellent experience.

Colleen Power
2019-07-31

Leon returned my called from a missed call within 15 minutes of my call and I left no message. Leon and his team were fantastic. Even with the money issues we had Leon made me feel important and valued as a person.

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