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  • Opening HELOC when mortgage ends

    ... cons of opening a Home Equity Line of Credit? The banks always ask this question Also, is there an indirect "protection" from having a HELOC because it makes it more difficult for a fraudster to open a line against my house? Thanks all

    • rfdrfd
    • Jan 25th, 2023 7:25 pm
    • Forum: Real Estate

  • HELOC caveats for newbie?

    Is there any reason not to use a FI like Laurentian Bank? Their rate is 6.7% compared to most others at 6.95%. Are there any FIs with bad HELOC reputations? Any way to get the set up fee waived? Do they have to do an on-site appraisal? What does pre-approval mean? Seems like some places offer ...

  • Help - Sell home, or heloc to the max, make it a rental? (Someone wants the cash payout now, instead)

    ... to pay off the various things, let's say anywhere from 250K - 500K. What are the resounding considerations to keeping it as a rental, maxing the heloc (once we reassess its value so we can milk a lot more out of it), which then means rental income needs to cover utilities, property taxes, and ...

    • bubble.tea
    • Dec 13th, 2022 7:23 pm
    • Forum: Real Estate

  • HELOC rates

    What are the best rates now for a HELOC on a paid house with no other loans?

    • rulerman
    • Dec 6th, 2022 9:51 pm
    • Forum: Real Estate

  • HELOC or Mortgage?

    ... National. My goal would be to pay the mortgage off at that time, but if I still have 20k or so left, is it generally considered better to get a HELOC or maybe just do a 1 year renewal? I have in my mind it would be a good idea to have a HELOC in place anyway, as a "just in case we need ...

    • djeffery
    • Nov 17th, 2022 9:31 pm
    • Forum: Real Estate

  • Any institutions offering to waive HELOC set up fees

    Just wondering if anyone has had any luck having set up fees waived for a HELOC recently.

    • pigeonholed
    • Oct 14th, 2022 8:21 am
    • Forum: Personal Finance

  • How to cope with HELOC variable rate

    Hello everyone.I have a HELOC with a variable rate. Currently, the rate is 5.45%. Most likely this will go up further, as BoC keeps raising rates.What options do I have to reduce my exposure to this rate? Is there anything I can do to limit my monthly interest payments?Thnaks.

    • Norinyeg
    • Oct 11th, 2022 10:01 pm
    • Forum: Real Estate

  • Rental Heloc

    We are looking at getting heloc on our rental property. The rental property has a mortgage with desjardins. looking for an experienced broker,as we are self employed, located in GTA ontario.

    • 401Raptors
    • Oct 1st, 2022 11:53 pm
    • Forum: Real Estate

  • Heloc on rental property

    We are looking at getting heloc on our rental property. The rental property has a mortgage with desjardins. looking for an experienced broker,as we are self employed, located in GTA ontario.Thanks

    • 401Raptors
    • Oct 1st, 2022 10:58 pm
    • Forum: Personal Finance

  • HELOC and you sold your home. what happens to HELOC?

    As per the subject header??? Does the HELOC stays or does it have to be cancelled?

    • Seks
    • Aug 24th, 2022 10:27 am
    • Forum: Personal Finance

  • Best FI for HELOC

    Looking for an FI recommendation to apply for HELOC in terms of best interest rates, max amounts and income.

  • 2 Mortgages with a Maxed out HELOC @ $500k but want to renovate basement

    ... $1.2M (4bed in Richmond Hill... conservative estimate) Investment Condo: - $290k mortgage valued at $650K (1bed + Den in Midtown) - $300 Cash flow Heloc: $500k @ $1900/month interest only After all monthly living expenses we have around $500/month left. That is decent and we can cut back on items ...

    • stryka
    • Aug 15th, 2022 9:07 pm
    • Forum: Personal Finance

  • Is home insurance required to get a HELOC on a home you own outright?

    I have been researching this question but seem to be getting conflicting answers on the internet.I understand that to get a regular mortgage home insurance is mandatory. However, if you own a home outright with no mortgage leftover, is it possible to get a HELOC on the home without having insurance?

    • aveave
    • Jul 24th, 2022 3:56 pm
    • Forum: Real Estate

  • MCAP vs Simplii. Second position HELOC

    ... about 427K left from the original 465K mortgage Since the average house prices have gone up since we bought the house we decided to apply for a HELOC in order to do some renos and payoff the car. Shopped around - 2 brokers offered MCAP's Safeguard Mortgage (5.19% fixed) instead of HELOC. Otherwise ...

    • ihorcv
    • Jul 23rd, 2022 12:06 am
    • Forum: Personal Finance

  • Will OSFI announce changes to mortgage & HELOC rules? Answer: A big nothing burger.

    Tomorrow (June 28) OSFI will announce any new rules regarding RE secured lending products. Will they stop investor downpayments from HELOCs, put in any new HELOC limits or keep the status quo? What are you expecting or what would you like to see? Place your bets.😎 https://mobile.twitter.com/RobMcLister/status/1541418431517523968?cxt=HHwWgIC8zbH5m-QqAAAA ...

    • S5
    • Jun 27th, 2022 1:39 pm
    • Forum: Real Estate

  • Problems with Scotiabank - HELOC

    ... there's anything we can do on our end. Background On April 21, 2022 we met (in person) with an advisor at ScotiaPlaza to inquire about getting a HELOC from our primary home. We filled out some forms, gave all the info (pay stubs, etc), and since all of our banking products and services are with ...

    • Stangn99
    • Jun 24th, 2022 2:58 pm
    • Forum: Personal Finance

  • HELOC for New Build

    ... etc. so want to ensure I have the funds available regardless. Looks like the best way to finance the down payments is through an interest only HELOC? I had a mortgage with TD, which is paid off, and they offered me a flexline HELOC for TD prime plus .2. How is that rate, and how does TD prime ...

    • Corinthein
    • Jun 15th, 2022 1:11 pm
    • Forum: Real Estate

  • HELOC Investing

    I recently got approved for a HELOC of 100k at an interest rate of 3.6%. I was thinking of using the funds to max out my TFSA (I believe I have roughly 80k limit and 20k is there so I have about 60k to max it). And then investing the funds, ...

  • HELOC repayment

    Have a question about repayment of HELOC. Say, i have some approved HELOC amount sitting in my HELOC a/c & say, I use $20000 from it towards whatever expenses or investment. My understanding is that I atleast should continue to pay its ...

  • Current HELOC Interest Rate

    What is currently HELOC interest rate? and how much I will have to pay the interest if I get $60000 and in how many yrs? Ratespy and HELOC are showing HELOC rates from 3-3.5%. Is this correct?

    • shakilhyd
    • May 4th, 2022 7:57 pm
    • Forum: Real Estate

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