ICICI Bank Canada offers
Secured Line of Credit against your cash collateral.
An even riskier alternative is to pay for all renovations up front using credit cards or store lines of credit, and then apply for
a secured line of credit against the remodelled home.
Not exact matches
Using your home itself as collateral, this
secured financing usually touts lower interest rates than
credit cards and acts as a revolving source
of funds, so that you can borrow
against your home and pay back the
credit line as many times as you'd like during the draw period.
Your home is your largest asset, and you may choose borrow
against it one or two ways: to
secure a home equity loan in a lump sum or as a home equity
line of credit (HELOC) to draw from as you need it.
The HSBC Home Equity
Line of Credit is
secured with a registered collateral mortgage charge
against your principal residence.
Both are
lines of credit secured against your home.
The benefit
of M1 in this case is that your $ 95K
of savings are still accessible to you in case
of emergency whereas the 20 % you pay
against your mortgage is locked away in the equity
of your home (although I suppose you could ask your lending institution for a
secured line of credit to regain access to this money).
The
line of credit is
secured against the value
of your home.
The HSBC Home Equity
Line of Credit is
secured with a registered collateral mortgage
against your principal residence.
Hi Elizabeth — Currently we are funding our deals with a
line of credit that we have
secured against some rental properties, recycled cash, some private lender funds and rehab loans from banks.
(Also, I'd advise strongly
against putting your entire savings or emergency fund into a
secured credit card just to get a higher
line of credit.
The Roman Catholic Church was a bank whose capital was
secured by the infinite mercy
of Christ... and so... The sinners established a
line of credit against bad behavior and could go on sinning.
Both are
lines of credit secured against your home.