Secured Line of Credit
What can a CMI secured line of credit offer you? Access to flexible credit without the high interest rates of unsecured debts like credit cards.
As mortgage brokers, we help you unlock the equity you have amassed in your home through a home equity line of credit (HELOC).
Line of Credit
Perfect for a secured debt consolidation,credit repair and renovations and business loans!
Loans vs. Credit Lines
You may be wondering why you would choose a line of credit over a standard loan.
When it comes to home equity products, both arrangements have their benefits. But a line of credit offers one thing that a loan does not – flexibility.
With a line of credit you can borrow small sums against the total amount of equity in your home. In other words, you can borrow what you need at a given time. If you find you need a little extra, you simply add it to your credit line. If you had a loan, you would have to re-apply for new funds each time you needed the.
Lines of credit are ideal for projects like home renovations, which frequently have cost over-runs. Instead of having to add extra costs to a high-interest credit card or go cap in hand to the bank for more money, you can simply add to the balance on your credit line.
Because HELOCs have far lower interest rates than credit cards and personal loans, they are also an excellent choice for debt consolidation.
HELOCs for All Kinds of Borrowers
When it comes to home equity products, we know that one size does not fit all.
CMI brokers look at your individual case, including your current lifestyle, budget and obligations. Then we help you find the lender with the best terms for your situation.
Consider the clients who count on us for financing: people looking for assistance negotiating the best possible deal; people with troubled credit histories or bankruptcies; the self-employed; commission-based salespeople whose income fluctuates; first-time home buyers with no credit history.
We specialize in these kinds of cases and we have helped all kinds of borrowers secure favourable terms like these:
- Open first mortgages with a secured HELOC to 80%
- First position HELOC up to 75%
- Second position HELOC up to 80%
- Up to 85% funding for people with poor credit or who work for themselves
- First and second mortgage combined up to 90%
- Low monthly payments through long amortizations
We can offer terms like these because we are mortgage brokers. We do not sell the products of one financial institution. Instead, we work for you to find you the most favourable terms, whether they come from a big bank or a private lender.
A Free, Confidential Assessment is Yours – Just Contact Us
To learn more about the benefits of a CMI secured line of credit, contact us. We’d be happy to discuss your options in a free consultation.