MIKE BONIFERRO - Mortgage Broker
MIKE BONIFERRO
Mortgage Broker
Menu
APPLY NOW

Home Equity Line of Credit (HELOC)

Tap into Your Home's Equity

A Home Equity Line of Credit (HELOC) is a versatile borrowing option that allows you to leverage your home’s equity as collateral to access a flexible line of credit, at the lowest possible interest rates. Unlike traditional loans, a HELOC provides ongoing access to funds, which you can borrow as needed up to your approved limit, and repay at your convenience without penalty.

Key Benefits of a HELOC

  • Flexible Access to Funds: Once your HELOC is approved, you can draw from it anytime for any amount up to your limit. There’s no need to reapply every time you need more funds.
  • Interest Savings: HELOCs typically offer low interest rates, usually starting very close to Prime Mortgage rates, making them amongst the lowest cost alternatives to credit cards and personal loans.
  • Interest-Only Payments: Most HELOCs allow for interest-only payments, giving you the flexibility to manage your cash flow effectively. You only pay interest on the amount you’ve borrowed, not your total credit limit.

Our HELOC Solutions

Our lender database gives me access to countless options offering a variety of home equity products tailored to meet the needs of all types of borrowers. Our options include:
  • Standalone (First Position) HELOCs: Borrow up to 65% of your home’s value with a standalone HELOC solution.
  • Second Position Equity Lines of Credit: Access up to 80% of your home’s value with a second position HELOC, perfect for those who already have an existing mortgage.
  • All-In-One HELOC and Banking Product: Access the equity in your home through the powerful Manulife One solution, where your mortgage and bank accounts work together to save interest and pay down debts fast.

How a HELOC Can Work for You

Debt Consolidation

Simplify your finances by consolidating high-interest debt into one manageable, lower-interest payment.

Small Business Support

Smooth out cash flow during slow periods or fund growth initiatives with easy access to capital.

Home Renovations

Invest in your property by financing renovations that could increase your home’s value.

Get Started Today!
A HELOC can be an important financial tool for today’s homeowner, offering unmatched flexibility and control over your borrowing needs. Contact us today to learn more about how a HELOC can benefit you.
Quick Apply!
Book a Call with Mike Today!
Mike Boniferro
Mortgage Broker
Originator Licence #M18001301

TLC Mortgage Group
Independently Owned and Operated
Contact us Today!

Have questions for Mike?  Send a quick message below and I’ll reach out right away!

Consent