The “Big Five” Canadian banks offer credit cards and include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Did you know that there are many other options?
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Amex Offers: Spend $175 with Amex Travel for hotel or car rentals and receive a $50 statement credit + MORE Jul 20th
A new Amex Offers for booking with Amex Travel came out today This offer provides a $50 statement credit when you spend $175 or more on prepaid hotel or car rental bookings online with Amex Travel. The offer is good for one single qualifying purchase or cumulative qualifying purchases so you could .... More »
Researchers discover groundwater beneath glacial ice streams in Antarctica - News9 LIVE + MORE May 9th
Researchers discover groundwater beneath glacial ice streams in Antarctica News9 LIVEScientists discover a giant groundwater system under the ice sheet in Antarctica Interesting EngineeringScientists discover massive reservoir of water under Antarctic ice AxiosScient.... More »
Holiday debt hangover: How to get your finances back on track Feb 11th
After the holidays wrap up, many Canadians are left dealing with what’s often called a “holiday debt hangover.” It’s that uneasy feeling in January when the celebrations are over, but the credit card bills loom.
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March 28 Update: MBNA Alaska Airlines World Elite Mastercard Review (Updated for 2022), new Flight Reviews page & last few days for the amazing KLM sale! + MORE Mar 28th
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Earn 150+ Free Aeroplan Points for a few minutes of work Jan 15th
Air Canada Aeroplan members have a new way to earn points from home and that is by completing surveys with LEO. Leo is an online survey site operated by Leger Marketing. This isn’t the first survey company to offer Aeroplan points, Asking Canadians has done so for many years and now Leger has .... More »
`Wolfe disk`: Astronomers discover ancient galaxy similar to the Milky Way WIONAncient disk galaxy looks 4.5 billion years ahead of its time New AtlasAstronomers make incredibly discovery of massive disk galaxy similar to our own 7NEWS.com.auAstronomers announce discovery of ‘unlikely’ new galaxy: report PennLiveWolfe Disk: Huge rotating disk galaxy in distant universe baffles astronomers – Republic World Republic WorldView Full coverage on Google News
What Is A Home Equity Line of Credit?
– canadianfinanceblog.com
A Home Equity Line of Credit, or HELOC, is a revolving line of credit that is secured against the equity in your home. You can operate a HELOC on its own, or it can be set up alongside a standard mortgage. HELOCs are known for their flexibility because they allow you to borrow a pre-approved amount of money as you need it. They also feature a variable interest rate with no fixed term, meaning that you can pay the balance off in full at any time, without any prepayment penalties.
Many HELOCs come with an option of locking any portion of the balance owing into a fixed rate and term, as a way of securing the borrower’s interest costs. A HELOC can be set up for the purchase of a home, or as a refinance. Of note, the revolving portion of a HELOC cannot exceed 65% of a home’s loan to value. Combined with a mortgage, the maximum loan to value increases to 80%.
HELOC Features
Many HELOCs come with an option of locking any portion of the balance owing into a fixed rate and term, as a way of securing the borrower’s interest costs. A HELOC can be set up for the purchase of a home, or as a refinance. Of note, the revolving portion of a HELOC cannot exceed 65% of a home’s loan to value. Combined with a mortgage, the maximum loan to value increases to 80%.
HELOC Features
Revolving credit product
Offers maximum flexibility
Variable interest rate ranges between Prime + .5% and Prime + 1…
`Wolfe disk`: Astronomers discover ancient galaxy similar to the Milky Way WIONAncient disk galaxy looks 4.5 billion years ahead of its time New AtlasAstronomers make incredibly discovery of massive disk galaxy similar to our own 7NEWS.com.auAstronomers announce discovery of ‘unlikely’ new galaxy: report PennLiveWolfe Disk: Huge rotating disk galaxy in distant universe baffles astronomers – Republic World Republic WorldView Full coverage on Google News
