HELOC Mortgage (Home Equity Line of Credit)
Our HELOC Mortgage (Home Equity Line of Credit) is the next generation of mortgage. Within your HELOC Option you can hold fixed mortgage terms, variable rate terms and lines of credit, all at the same time! Some of our more popular HELOC mortgage products are Scotiabank's STEP mortgage, National Bank's All-in-one mortgage and the ING Heloc.
Want to borrow some money to invest, buy a car, send the kids to school? Separate them all for ease of accounting. Can't decide between long or short term, do both! The home equity line of credit is not just a mortgage, it's a valuable tool in your overall financial plan. Let a Canada mortgage broker assist you in setting up a home equity line of credit mortgage for you!
The Hybrid mortgage you see advertised on our mortgage rates page is also a type of HELOC mortgage. This mortgage product is split between a 5 year fixed mortgage and a 5 year variable rate mortgage, and the mortgage rate our Canada mortgage brokers are offering is an average of the two. Obviously as the variable rate mortgage changes so will your mortgage rate however not as quickly as it would if you were 100% variable. Call one of our Canada mortgage brokers today to discuss this mortgage option to see if it may be right for you! The home equity line of credit, just another great product offering from Verico Mortgage!