Is a Home Equity Line of Credit Right for You? | The Ismaili Canada

News

Is a Home Equity Line of Credit Right for You?

January 23, 2021 | Canada

Do you have a home equity line of credit combined with your mortgage? Are you dreaming of a home renovation? If you’re borrowing against your home equity to pay for it, it’s important to have a plan to pay it back.

Establish a clear plan for how you'll use a home equity line of credit. Consider a repayment schedule that includes more than just minimum monthly interest. Make a realistic budget for any projects you may want to do. Learn more by visiting this Government of Canada website and checking out this video.

Visit iiCanada’s Financial Well-Being page for a comprehensive list of resources, tools, courses, and tips to build a strong and secure financial future.

Share with friends
The Ismaili

Contact Us

His Highness Prince Aga Khan Shia Imami Ismaili Council for Canada

49 Wynford Drive Toronto, Ontario M3C 1K1 CANADA

Tel: +1-416-646-6965

Stay Connected

Subscribe to the Al-Akhbar newsletter today. Join over 40,000 people who receive weekly local, national and international news.

Sign-Up

Download the iiCanada App

Download on the App Store Download on the Google Play