The main advantage to your home equity line of credit is ongoing access you have to your equity at a…
-
WHAT CAN I DO WITH MY HOME EQUITY LINE OF CREDIT?
Some of the more common reasons Canadians love their HELOC is their ability to complete home renovations, pay off high…
-
HOW DO I KNOW HOW MUCH I CAN GET FOR A HOME EQUITY LINE OF CREDIT?
A home equity line of credit is combined with a mortgage as a secondary source of funds should you need…
-
IS A HOME EQUITY LINE OF CREDIT THE RIGHT OPTION FOR YOU?
Subject to income qualifying, we recommend adding a HELOC to your mortgage as there are only advantages to you. It’s important…
-
What is a HELOC, and how does it work?
A HELOC is a revolving line of credit secured against your home equity. It allows you to borrow funds up…
-
What can I use a HELOC for?
HELOC funds can be used for various purposes, including home renovations, debt consolidation, education expenses, investments, and emergency funds.
-
How is a HELOC different from a home equity loan?
A HELOC is a revolving line of credit, while a home equity loan provides a lump sum payment with fixed…
-
What are the advantages of using a HELOC for home renovations?
Using a HELOC for renovations allows you to access funds as needed and potentially increase your home's value. The interest…
-
How do I qualify for a HELOC?
Qualification criteria typically include sufficient home equity, a good credit score, stable income, and meeting specific lender requirements. Boychuk Mortgage…
-
Is the interest on a HELOC tax-deductible?
Sometimes, the interest paid on a HELOC used for home improvements may be tax-deductible. Consult with a tax advisor to…