Secured/Home Equity Line of Credit
$50,000 and up
Lines of Credit
Renew, switch, or get a new mortgage with rates starting as low as 5.09%*.
Lock in your low rate today and we'll cover the cost to transfer your maturing mortgage. Plus, receive up to $500 cash back. Conditions apply. Offer ends Mar 31, 2024.
Life is full of surprises, and unexpected expenses.
Student loans, credit card bills, home repairs, waiting for that full-time position…it's a lot to juggle. Add to that a wedding or a first child and a line of credit (LOC) is your port in a storm. It's a pre-approved loan for a set limit that you can tap whenever you need to and for whatever purpose. With lower rates than conventional credit cards and flexible payment options, a LOC can save you thousands of dollars in interest charges annually.
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Loans up to
80%
of your home equityStarting at
7.70%
variable interest rateThis option gives you the highest credit limit available, based on the equity in your home. You can receive a loan up to 80% of your property's value. Enjoy the option of interest-only monthly payments, lower interest rates and lower monthly payments than you would get from the unsecured line of credit.
Common Questions
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Why a Secured Line of Credit instead of a Loan?
You're in control. You decide when, or if, to use it, how much to withdraw and what to use it for. Unlike a loan, you don't pay interest until you use it. And, unlike a Loan, it is reusable. Once approved, you can tap into it whenever you need to.
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Can I make payments at any time without penalty?
Yes, make as many payments as you would like. Payments may be made weekly, bi-weekly, mid-monthly or monthly.
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How can I access my funds?
You can access your Line of Credit through any of these methods: online, by phone, cheque or ATM.
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Ready to talk lines of credit with us?
Get in touch with a Mortgage Agent -
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*Restrictions apply. See details.
Learn more
Read more about lines of credit
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Educators Financial Group partners with a number of lenders (we act as a brokerage), so rates and products are subject to change at any time without notice. Not all programs/features/benefits are available with each lender. Speak to an Educators Mortgage Agent for full details.