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The idea behind a home equity line of credit is to allow you to borrow an amount equivalent to up to 65% of the current value of your home without incurring any additional notary’s fees. Also, interest on the line of credit is calculated each month only on the amount used. Another specific benefit of a mortgage line of credit is that if you are expecting to receive a large sum of money, there are no limits as to how much principal you can repay, and no penalties.
There are many advantages to a equity line of credit. You can use it to fund a renovation project or pay off your debts. Talk to your The Mortgage Processing Centre.ca mortgage broker to learn more.
Have you been thinking for a while about doing some renovations? Would you like to renovate your bathroom to increase the value of your home? Did you know you could refinance your mortgage to free up the money you need to pay for your renovations?
The Mortgage Processing Centre.ca’s mortgage brokers are here to answer all your questions and explain your options for making your plans happen.
You probably have plenty of dreams you’d love to see come true—but having the money you need to make them happen is a whole other story! Did you know you can refinance your mortgage to free up the funds you need to make your wildest dreams come true?
Whether you want to buy an RV or travel around the world, The Mortgage Processing Centre.ca’s mortgage brokers are here to listen and explain your options when it comes to turning your dreams into reality.