Home Equity Line of Credit

Utilize the equity in your home by obtaining a secured line of credit today! With a Home Equity Line of Credit (HELOC), equity can be withdrawn to be used for any purpose. You can use your equity to help planning your investments, including establishment of a fund(s) for your children's educational needs.

A HELOC is linked with your chequing account and easy to use. You can access the funds through purchases using your debit card, by writing cheques, or by simply withdrawing cash. You will receive monthly statements, allowing for easy management of your finances. You also have the option of linking your account to the telephone banking service, so that your account information is always only a phone call away.

Benefits

• A HELOC’s value may be up to 80% of the current market value of your home
• The product can be registered behind most first mortgages without incurring penalties.
• You can withdraw a portion or all of your available line of credit whenever you choose
• Flexible repayment options — you can simply make the required monthly interest payment or put down a larger amount up to the entire balance
• Your line of credit has no expiry date — it's yours to use as long as you need it