Line Of Credit Mortgage
Our Brampton mortgage brokers at Avon Financial, will help you to find the best line of credit mortgage options and rates. Contact our mortgage brokers to know more about the mortgage services we provide.
A home equity line of credit is a loan in which the lender agrees to lend a maximum amount within an agreed period (called a term), where the collateral is the borrower's equity in his/her house.
A home equity line of credit allows you to spend up to a certain amount. Unlike a regular loan, you don’t start paying interest charges until you decide to use it. You can use as much of the line of credit as you want, and pay back any amount as long as you make the minimum monthly payments set by your lender. Minimum payments may be a combination of interest and principal or interest only.