In an uncertain economic climate, a Home Equity Line of Credit (HELOC) can offer GTA homeowners valuable financial flexibility. According to a recent Financial Post article, for those with solid credit, sufficient equity (at least 20%), and responsible spending habits, a HELOC can be a powerful tool.
HELOCs can provide a safety net during job loss or unexpected expenses and allow homeowners to capitalize on investment opportunities. While not without risks, particularly with variable interest rates, a HELOC can be a strategic financial move for qualified borrowers. However, it’s important to note that lenders can freeze or demand repayment of the HELOC if they see credit quality slipping or home values declining.
To learn more about the pros and cons of HELOCs and whether they’re the right choice for your situation, read the full article on Financial Post.
Source: Read the original article
