What Is a Home Equity Line of Credit?
A HELOC is a secured form of credit. Your home is used as collateral to guarantee that you’ll pay back the funds you borrow.
HELOCs are revolving credit. You don’t get a single lump sum upfront that you make payments on, like a home equity loan. You draw the amount of money you need and make payments on the amount you’ve borrowed.
Benefit Of Secured Line Of Credit
A secured LOC (backed by the equity in your house) lowers the risk to the lender so you get a lower interest rate, lower monthly payments, and a significantly higher limit. In fact, if you plan to use a significant amount of credit, you can save hundreds of dollars a year with a secured LOC.
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About GNE
GNE Mortgages is an established mortgage brokerage house conveniently located in the heart of Mississauga (Hurontario/Watline) providing effective mortgage solutions throughout Ontario. Whether you are looking to purchase your very first home or upgrade to a new home, renew your existing mortgage, refinance your mortgage to free up some equity, purchase investment properties or vacation homes, or ease business-related equipment, we have a variety of products available to meet your unique needs.
The Reason You Need for Home Equity Line of Credit
Opportunity
What Our Clients Say
Hear success stories straight from our customers.
Fletcher
These guys surely deserve a full rating for their knowledge and smart work.
Sana
One of the best decisions I made is to work with these guys to refinance my commercial mortgage. They were extremely helpful in the entire process and made me feel tension free.
Sara
I’m really appreciative of all your dedication and hard work. You make all my worries gone with your mortgage options to buy my vacation home.
Wislon
I had an excellent experience with GNE Mortgages on my first time home buying process! It’s really smooth and simple way to work with their team.
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211 Watline Ave, Unit 104 Mississauga, ON L4Z 1P3
