IK Financial Metarials
Mortgage Glossary

Mortgage 101 - HELOC

What is a “HELOC”?
HELOC stands for Home Equity Line of Credit. This line is secured by the equity that you have built up in your home. In other words, with HELOC, the lender uses your home as a guarantee that you will pay back the money you borrow.
What are the advantages of HELOC?
🔹you can borrow as much as you want within your available credit limit
🔹pay back the money you borrow at any time without a prepayment penalty
🔹lower interest rates than other types of credit
Get the max from your existing home. Contact our licensed Mortgage Agents for professional advice:
Inna Bogdanov 416.268.0004 | Inna@ikfinancial.com
Katerina Markevich 416.388.8153 | Katerina@ikfinancial.com