Home Equity Line of Credit - HELOC

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A home equity line of credit is a great way to use the equity in your home to finance purchases, investments or pay down debts. 

A line of credit tied to the equity in your home is considered a secure debt and, as such, qualifies for much lower interest rates than standard loans.  It is a way to have access to your home equity but you only pay interest on the amount you borrow.


Debt consolidation in Saskatchewan. Couple gets lower interest paymentsA home equity line of credit, or HELOC, can be set up through Kincaid mortgages to make accessing funds simple.  Your HELOC can be tied to your current mortgage – there is no need to transfer, change or incur penalties on your current mortgage.

Your line of credit will be set for a certain amount, and you can borrow any amount up to that limit.  You can use some or all of the available credit, pay it back on your schedule and borrow again whenever you need to. 

The HELOC offers you flexible repayment options.   You are only charged interest on the portion you borrow – not on the full amount available. 

Each month you must make the required interest payment, but can pay back any or all of the borrowed amount at any time. 

Quick Access to Funds

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A line of credit can be as large as 80% of the market value of your home, depending on your home equity.  The HELOC has no expiration date, so you can keep it as security for any unforeseen future expenses, including education payments, investments, travel and home improvements/repairs.

Have funds ready when you need them – at a great low interest rate.  Call Kincaid Mortgages to get started!