Home Equity Lines of Credit (HELOC) are typically offered at the Banks' Prime Rate, with interest only repayments, and are not amortized.

More and more Banks are getting into the HELOC market, with some even offering HELOCs at Prime "minus" rates, at least for the first while. If you are interested in learning more, do email me at fmclagan@telus.net.


You may look at one if you are hoping to:

* Expand your business
* Consolidate high interest debts
* Start your own business
* Make home improvements
* Invest in Real Estate or other investments

Flexibility

• Make additional payments at any time without penalty
• Use only what you need, when you need it, up to your available credit limit

Saves You Money

• You only pay the interest on the credit you have used
• Replace high interest bills with one lower monthly payment

Convenience

• Apply only once – and it is set up to use when you need it