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Line Of Credit Kitchener – Access Mortgage

A personal line of credit in Kitchener is a loan that allows you to spend up to a certain predetermined limit. Unlike a regular loan, you don’t start paying interest charges until you decide to use it. You can use as much of the line of credit as you want, and pay back any amount as long as you make the minimum monthly payments set by your lender. Minimum payments may be a combination of interest and principal or interest only. A line of credit in Kitchener can be secured or unsecured, but Access Mortgage focuses solely on secured lines of credit for our clients. Access Mortgage specializes in working with clients who are in debt or have unprovable income. We help these clients by putting them on the path of debt relief and helping them obtain first, second, and third mortgages. We represent over 400 lenders, most of which specialize in subprime lending. Read on for more information about getting a line of credit in Kitchener from Access Mortgage.

Secured vs. unsecured lines of credit:

There are two types of lines of credit, secured and unsecured. An unsecured line of credit is not backed up by any asset. The unsecured line of credit can accumulate more interest than a secured one. A secured line of credit is backed by a valuable asset like your home or business. A secured line of credit has lower interest rates because it is secured against a valuable asset. Paying back the loan depends on the borrower’s circumstances and the asset that it is secured against.

Click here to schedule a five minute call with one of our brokers to get Access advice on how we can help you become debt free!  

Some benefits of a line of credit in Cambridge:

Lower interest rates:

Compared to the interest rates you’d pay with other types of consumer loans, the interest on line of credit loans are less expensive. HELOCs have fixed terms relative to length of loan or time you have to pay back what you borrow. Most are adjustable-rate loans tied to whatever financial parameter stipulated in the HELOC contract and usually go up and down with the prime Bank of Canada interest rate . Importantly, you only pay interest on the amount that you use, not the entire available amount.

Interest paid is tax deductible:

Depending whether you are self-employed, work from home or have a business, some of the interest you pay on your line of credit loan may be tax deductible – just like the interest you pay on your primary mortgage. The deductions for mortgage interest rates (primary and secondary) can add up to significant income tax savings. To find out whether you are able to make deductions such as these, you should contact a qualified accountant who can advise you accordingly.

Funds can be used for any purpose:

When you take out a line of credit loan, you can use the funds for any purpose: remodel your home or buy a boat, second home, car, education, medical expenses or procedures, anything you choose. But, the loan is secured against your property and needs to be paid like any mortgage that you would have with a lender.

Access Mortgage can assist you with getting a secured line of credit in Cambridge so that you can get debt relief and get you back on the path towards financial freedom. Our professional team will work for you to find you the lowest rates possible for your individual situation.

For more information about a line of credit in Cambridge from Access Mortgage, please feel free to continue browsing through our website. We can be reached at 1-844-397-3780 or by filling out our contact form.  

WHAT PEOPLE ARE SAYING…

  • “Rent-to-own made possible”
    We would like to thank Matthew and his team. We put a lot of money down on a Rent to Own property that we were renting, but we could not get anyone to help us out till we found Mathew. He made it happen and closed on time when know no one else could. From all of us here THANK YOU! We now own our own house!

    C.T., HAMILTON, ON
  • “Best Mortgage Team I've worked with”
    Matthew and his team are the best mortgage team I have ever worked with. They are extremely hard working and bend over backwards to get the job done no matter how complicated or difficult. If there is a way – they will find it. And it will be in YOUR favor. Matthew goes out of his way to set you on a path of success. This is our second mortgage process we have gone through with Matthew, and we are in a better position now than we were the 1st time – all due to Matthews efforts and guidance. After following his recommendations and guidance over the next year we will use Matthew again for our next mortgage and be in an even better position then. If you need a mortgage done, no matter how complicated, call Matthew. He’ll make it happen.

    M.Z. BRANTFORD, ON
  • “No hesitation recommending”
    Matthew’s knowledge, experience and above and beyond work ethic sets an exemplary standard of professionalism and accountability. His integrity and drive is second to none… He truly is a miracle worker!! I have no hesitation in recommending his services to anyone seeking expert assistance. I’m beyond grateful and blessed!!

    M.D., BINBROOK, ON
  • “A tough deal that others could not do!”
    Access mortgage did a great job in getting us a mortgage. It was a tough deal and they were able to get it done when others couldn’t. I would not hesitate to use them again.

    BEA - CAMBRIDGE, ON
  • “Seamless from beginning to end!”
    I just want to say 'thank you' to all of you, especially Matthew. The financial stress started affecting my health and my life. I could not sleep or focus at work. Now it has given me control on my life by connecting me to a great lender. I have gone from being full of stress to being stress-free.

    JULIE - HAMILTON, ON
  • “From full of stress to stress-free”
    I just want to say ‘thank you’ to all of you, especially Matthew. The financial stress started affecting my health and my life. I could not sleep or focus at work. Now Access Mortgage has given me control on my life by connecting me to a great lender. I have gone from being full of stress to being stress-free.

    M.D., MISSISSAUGA, ON
  • “Patient with deep understanding”
    Thank you for all the help that you gave me, most patiently and with deep understanding. I was very comfortable asking you everything and anything. Your team did great job in making me understand the financial side. I have learnt a lot. Thanks to Matthew for taking time to come to my place. He not only did his work, but for a short time, took me back to most nostalgic memories of my life, before I came to Canada. I am also grateful to the lawyer for coming to my place to meet with me, and quickly closing the mortgage and releasing the funds.

    S.S., MISSISSAUGA, ON
  • “Got creditors off our back”
    I can’t say enough how great your company has been. Matthew, thank you so much for making all of this process so easy for us. Our bank would not help us and you were amazing. Your company kept us informed every step of the way, and not once were we made to feel inferior like our bank did. The lawyers you set us up with were also awesome. I will highly recommend your company to anyone looking for mortgages. Thank you so much for getting creditors off our back and setting us on the right track. You guys are all amazing. I’m also so impressed that you came to us do to everything.

    K.K.P., HAMILTON, ON
  • “Best mortgage team I’ve worked with!”
    Matthew and his team are the best mortgage team I have ever worked with. They are extremely hard working and bend over backwards to get the job done no matter how complicated or difficult. If there is a way – they will find it. And it will be in your favour. Matthew goes out of his way to set you on a path of success. This is our second mortgage process we have gone through with Matthew, and we are in a better position now than we were the 1st time – all due to Matthews efforts and guidance. After following his recommendations and guidance over the next year we will use Matthew again for our next mortgage and be in an even better position then. If you need a mortgage done, no matter how complicated, call Matthew. He’ll make it happen.

    C.H. - ST. CATHARINES, ON
  • “Extremely Fast!”
    Access Mortgage was extremely fast and explained everything well. We were very happy with their professional service and honesty. I would definitely refer them.

    LISA - BRANTFORD, ON
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