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


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.

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