HOME EQUITY LINE OF CREDIT - MAXIMUM USAGE OF PROPERTY EQUITY

Designer Capital worked with our clients to refinance their Primary Residence on the mortgage renewal date to secure a Home Equity LOC for future renovations and investments.

Our clients returned to Designer Capital as their mortgage was up for renewal. The clients are self-employed and provided full tax returns, corporate registration and income documents. The clients received a renewal offer from their current lender but were not presented with any options to utilize the equity built up in their home from paying down their mortgage and property value appreciation over the last five years.

Working with a broker channel lender, Designer Capital was able to achieve this Novel Financing Solution:

• Mortgage Amount: $844,000 (80% Loan to Value)

• Home Equity Line of Credit and Mortgage “All in One” product

  • Term Mortgage: $490,000

  • Revolving Line of Credit: $453,000 – the limit increases as the term mortgage principal amount is paid down

• Competitive Variable rate for Term Mortgage

• Competitive HELOC rate (Prime +0.20%)

Designer Capital’s Unbiased Advice allowed the clients to utilize the equity in their property for renovations and future investments. Our team was able to collect the necessary documents from the clients from day one – the lender did not request any additional documents after providing the loan commitment. Designer Capital provided a seamless experience from application to funding and provided a unique solution for our clients.