A Home Equity Line of Credit provides more equity at your fingertips. Banks have made it more difficult to obtain Home Equity Loans and only lend up to 70% of the value of your home. SECURELEND can help get more, our expansive network of lenders will lend up to 80% and higher. Whether you have been turned away from a Home Equity Line of Credit in the past or have bad credit or no credit, SECURELEND offers a range of solutions to help you get a Home Equity Line of Credit. Apply online, you can be approved in 60 seconds! Or contact us and one of our dedicated agents will be assigned to you and walk you through the application process, quickly and stress-free!

How does a Home Equity Line Of Credit work

A line of credit can be useful if you have built up a reasonable amount of equity in your home, as you can easily access it to purchase other assets or items. For example, you could draw down on your home equity to fund a new car. The benefit of this is that you are effectively borrowing for a car at home loan rates. Interest rates on personal loans or car loans are usually significantly higher than home loan interest rates. Some investors also use a line of credit to invest in the share market. When they sell shares they put the money into the line of credit, reducing the balance and increasing the equity they have in their home, and when they want to purchase shares they draw down on their equity. Using the equity in your home this way can be an effective form of financing because home loan interest rates are the lowest interest rates many people are offered. One thing to keep in mind is that if you use the equity you have built up in your home to fund other purchases it is likely to take a lot longer to own your home. This may not necessarily be a bad thing. If you are using the money for investments such as property, which earn a good return, you are likely to increase your net wealth. Similar to an overdraft account, a line of credit allows you access to additional funds by drawing on the equity value of your home. You may not wish to sell just yet, but if the value of your home has appreciated, and you are in need of some extra cash to finance a home improvement or even an investment property, a line of credit loan may be the answer. Lines of credit have also been marketed as a tool to help you reduce your mortgage fast by directing income from all sources into your line of credit loan account, and then drawing living expenses as and when required.

A Home Equity Loan from SecureLEND can help
  • Purchase an investment property
  • Home renovations to increase the value of your home
  • Consolidate high interest credit card debt
  • Paying off Canada Revenue Agency (Tax Arrears)
  • Car loans
  • Lines of Credit
  • Personal Loans
  • Emergency expenses
  • Retirement income
  • Pay off bills
  • Bankruptcies, Consumer Proposals & Collections
  • Vacation