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Home Loans Line of Credit
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Line of Credit Mortgage Loan


A line of credit mortgage loan provides you with access to the equity in your home or investment properties up to a pre-approved limit. You access the funds as you need to. The interest rate on a line of credit mortgage loan is usually a variable rate and repayments are interest only.

 

This loan allows the borrower to use a property they already own to fund other investments, say, another property or some shares, or for purchases such as a car or a new kitchen.

Advantages:

  • You can use the money when you need it and pay it back when you can
  • Rates are generally lower than a personal mortgage loan or credit card


Disadvantages:

  • Unless care is shown it is possible to reduce the equity you have built in your home


 

Call Finance Today on 1300 886 580 for a no obligation discussion on your requirements, e-mail us or make an appointment online.

 

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