A HELOC (home equity line of credit) is an alternative way to borrow. With a HELOC, your home's equity becomes collateral to provide you with a supply of credit; you decide how much credit you need, when you need it, then repay it when you can. There is never a penalty to pay off your balance.

A HELOC is flexible the way a loan isn't. Once approved, a line of credit can be accessed anytime, for any amount up to your limit. HELOCs have low-interest rates (as low as Prime Rate +0.50%), making them less costly than credit cards and personal loans.

Shadi Amini has access to more than 57 Canadian lenders who offer a wide range of home equity products for all types of borrowers.

• First Position uninsured HELOCs up to 65% of your Home Value.

• Second Position Equity Lines of Credit up to 80% on Home Value in combination with a mortgage.
  A HELOC is an essential asset for today's homeowner - you are only charged interest on the amount you use, not your available balance. The majority of HELOC's include interest-only payments and you can pay any amount towards your balance penalty free.

Here's how a home equity loan can work for you:

• Debt consolidation can turn high-interest payments into one affordable amount.

• Small business owners facing slow growth or a transitional period have better management options.

• Homeowners can renovate for investment purposes and receive a return on their investment