Do you have a home equity line of credit tied into your mortgage?
One of our best lenders can now transfer these mortgages and will offer one of the greatest discounts we have seen in years. You may qualify for this special switch opportunity if you have a:
- Scotia Total Equity Plan (STEP) mortgage
- RBC Homeline
- CIBC Home Power Plan
- BMO Homeowner’s line of credit
- TD Home Equity FlexLine
There are two bonuses to switching out of a home equity line of credit:
- You would be getting a standard charge mortgage which will give you control of your equity, instead of the bank. Read more about the issues with collateral charge mortgages in our 5 Ways The Banks Tie You Down post.
- You will have access to some of the greatest discounts we have seen in years. Rates can be as much as 0.50% lower than what you are being offered from the bank. For an average mortgage, that could translate to $5,000 or greater in interest savings over the next 5 years.
Transfer your line of credit balance and mortgage in to the new mortgage and start saving big time!
For more information tell them to contact us at 905-546-0550