Sentences with phrase «collateral against its line of credit»

Not exact matches

Your home equity — the value of your home less any other debt registered against the home — serves as collateral for the credit line.

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.

A HELOC, in short, is a line of credit (similar to a credit card account) where the family home is used as collateral to borrow money against the house (the equity) in order to pay bills, do renovations, or take a vacation.

Home equity loans and lines of credit mean putting up your house as collateral against whatever you borrow, which means that if you fall into financial hardship, you could risk foreclosure.

The HSBC Home Equity Line of Credit is secured with a registered collateral mortgage charge against your principal residence.

Footnote 2 How a HELOC works With a HELOC, you're borrowing against the available equity in your home and the house is used as collateral for the line of credit.

A home equity line of credit (HELOC), which lets you borrow against available equity with your home as collateral, can be a powerful financial tool for homeowners.

ICICI Bank Canada offers Secured Line of Credit against your cash collateral.

The HSBC Home Equity Line of Credit is secured with a registered collateral mortgage against your principal residence.

With a home equity loan or home equity line of credit, the borrower puts up the equity in his home as collateral — essentially, this means borrowing against the amount your home is worth minus your current mortgage balance.