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Mortgage Secured Accessline Of Credit

Tap into the value of your home.


With a Mortgage Secured Accessline of Credit, you can borrow as much as 80 per cent of your home’s value, at a lower rate than a personal loan. Talk to one of our team to get started. 

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How a mortgage secured Accessline of Credit Works

 

Once a line of credit is set up, it allows you to create your own loan at any time. You make the decision when to use the credit and how much to use, without needing to go to your lender. You'll only pay interest on the amount you use, so making bigger purchases with your line of credit rather than your credit card can save you on interest. That makes it useful for some of life's bigger purchases:

  • for home renovations
  • for your child’s education
  • to pay off student loans
  • to enjoy the vacation of a lifetime
  • to winterize your cabin
  • to invest for your retirement
  • or maybe you just want to consolidate some debt

A line of credit is similar to a credit card where you get a certain credit limit available to you whenever you need it. But a line of credit usually offers a lower interest rate, making it a good option for bigger purchases.