A line of credit loan is a loan that you can apply for by a financial institution that is open ended...meaning that you can use it as long as you want...kinda like a credit card...and the benefit is that they're usually lower interest rates (my experience) and you can write cheques to that account.
any credit line that you have- credit card, car loan, mortgage and student loan
You can refinance the line with a fixed rate loan, or negotiate with the lender to freeze your credit line and fix the rate. They may or may not grant this request.
A home equity loan is a one time mortgage made against the equity of your property. On the other hand, a line of credit loan is not really a loan but is a line of credit you can access anytime within a set time period.
The home equity loan is a way to release the equity of your home in order to borrow money. A line of credit is a phrase used for a method of obtaining credit.
Yes, if the line of credit is a home equity line where the home is the collateral for the loan then you will have to prove that you have insurance on the home for the home equity loan. Any time you use collateral for a loan then part of the loan agreement will involve proof of insurance on the collateral.
Yes.
any credit line that you have- credit card, car loan, mortgage and student loan
line of credit that you can borrow, to purchase items. it is a loan
Anyone with good credit, who is willing to put their good credit on the line for you, and willing to guarantee that your loan will be paid even if they have to pay it, can co-sign a loan.Anyone with good credit, who is willing to put their good credit on the line for you, and willing to guarantee that your loan will be paid even if they have to pay it, can co-sign a loan.Anyone with good credit, who is willing to put their good credit on the line for you, and willing to guarantee that your loan will be paid even if they have to pay it, can co-sign a loan.Anyone with good credit, who is willing to put their good credit on the line for you, and willing to guarantee that your loan will be paid even if they have to pay it, can co-sign a loan.
You can refinance the line with a fixed rate loan, or negotiate with the lender to freeze your credit line and fix the rate. They may or may not grant this request.
A home equity loan is a one time mortgage made against the equity of your property. On the other hand, a line of credit loan is not really a loan but is a line of credit you can access anytime within a set time period.
The home equity loan is a way to release the equity of your home in order to borrow money. A line of credit is a phrase used for a method of obtaining credit.
The home equity is a line of credit, a loan, or both. It starts with a home equity line of credit which is a form of revolving credit with a variable interest rate.
RC loan refers to Revolving Credit Loan. Revolving Credit is a line of credit, which maybe used whenever a company needs funds. Usually, such credit doesn't have fixed number of payments.
Yes, if the line of credit is a home equity line where the home is the collateral for the loan then you will have to prove that you have insurance on the home for the home equity loan. Any time you use collateral for a loan then part of the loan agreement will involve proof of insurance on the collateral.
I heard you can write off you student loan if you put it on your house/line of credit. But i thought you could do that anyway. Anyone know?
Scotia Bank is large international bank, and a line of credit is an agreement with this bank that they will loan you money when you ask for it. The loan is based upon equity that you have such as your house.