Unlock the Power of Your
Home Equity (HELOC)

Advantages of the HELOC

Easy, Low-Cost Access to Funds

Enjoy flexible, ongoing access to funds at a rate usually lower than unsecured loans. Plus, with your HELOC

Adaptable Repayment Plans

Repay only what you use and decide how much to pay back—whether it’s just the interest, partial payments, or paying off the balance in full at any time.

Credit with a revolving balance

Apply once and borrow only what you need, when you need it—no reapplication required. Benefit from zero balance fees and no penalties for early repayment.

Types of HELOCs

Traditional HELOC

Variable Interest Rate: Tied to an index, such as the prime rate, with fluctuating rates over time.
Draw and Repayment Periods: The draw period (5-10 years) allows borrowing and repayment, followed by a repayment period (10-20 years) for paying off the balance.
Credit Limit: Typically up to 65% of the home’s value, with interest only paid on the amount borrowed.

Hybrid HELOC

Combined with a Mortgage: Often referred to as a readvanceable mortgage, this type combines a fixed-term mortgage with a HELOC. The credit limit increases as you pay down the mortgage, up to 65% of the home’s value.
Flexible Payments: Interest-only payments during the draw period, with regular principal and interest payments for the fixed-term mortgage.
Amortization: The fixed-term mortgage is amortized, while the HELOC portion is available for borrowing as needed.

Stand-alone HELOC

Not Combined with a Mortgage: A separate product from your mortgage with a credit limit of up to 65% of the home’s market value.
Revolving Credit: Functions as a revolving line of credit, allowing borrowing and repayment without needing a new loan document.

Conversion Options

Fixed-Rate Conversion: Some HELOCs offer the option to convert all or part of the balance to a fixed-rate loan, providing more predictable monthly payments.

Flexible HELOC Options to Fit Your Needs

If you’re looking to unlock equity in your residential property, a HELOC offers the right option for your needs.

Looking for a Mortgage and a HELOC?

Bundle your first mortgage with a HELOC or apply for one if you already have an existing mortgage.

Have a Mortgage with Another Lender?

Tap into your HELOC funds to settle your current mortgage with ease.

Own Your Home Outright? Access Its Equity

If your home is fully paid off, a HELOC can help you unlock its value anytime.

Common uses for HELOC funds include:

Business Start-Up

Wedding Expenses

Debt Consolidation

Medical Treatments

Retirement Savings

Education Costs

Hassle-Free Application, Exceptional Support

We’re here to help—let’s achieve your goals today!

Home Equity Line of Credit (HELOC) FAQ

What is a HELOC and how does it work?

A HELOC is a revolving line of credit that uses your home’s equity as collateral. You can borrow, repay, and borrow again up to your credit limit during the draw period, typically 5-10 years

How much can I borrow with a HELOC?

The amount you can borrow depends on your home’s value, outstanding mortgage balance, and lender requirements. Generally, you can borrow up to 65-80% of your home’s equity

What can I use a HELOC for?

HELOCs can be used for various purposes, including home improvements, debt consolidation, education expenses, or unexpected costs

How do HELOC interest rates work?

HELOC rates are usually variable, based on the Prime rate plus a margin. They may be higher than mortgage rates and can change over time

Unlock the Power of Your Home Equity (HELOC)