Home Equity Line of Credit
The Home Equity Line of Credit (HELOC) offers your clients a convenient way to unlock the equity that they've built up in their home and use those funds if and when they need them. The HELOC is a revolving line of credit that gives clients access to up to 65% of the appraised value of their home.
- 1 - 4 units
- New construction or existing properties
- Owner occupied (primary residence)
- Monthly, interest only
- Not applicable
- $50,000 - $750,000
Purchase Plus Improvements
Min credit score: 650
Max LTV: 65%
Max GDS/TDS1: < 680 = 35%/42%
≥ 680 = 39%/44%
Can be registered as a Homeowner's Kit when combined with a B2B Bank Standard Residential mortgage (purchase or refinance)
1The GDS/TDS ratios are calculated assuming 100% utilization of the line of credit using the 5-year Qualifying rate with a 25-year amortization. This product cannot be used in lieu of construction or bridge financing. All mortgages are funded by, registered in the name of, administered and serviced by B2B Bank. B2B BANK and BANKING THAT WORKS FOR BROKERS are registered trademarks of B2B Bank. HOMEOWNER'S KIT is a registered trademark of Laurentian Bank of Canada.