Best suggested for people who want lower monthly payments for a period of time so they can direct money into things like investments opportunities, home renovations, or retirement savings.
Interest Rates: Interest only home equity line of credit acting as the first registered loan under the property can be obtained at prime rate
Payments: Payments are interest only on the principal balance of home equity line of credit outstanding
Pre-payment options: Can be paid out in full at anytime; benefit from have accessible cash up to home equity line of credit’s limit
Excellent product for those who need access to cash in order to finish up home renovations or temporary financing solution for purchasing another investment property.