Line Of Credit
A line of credit or otherwise known as an equity loan or a reverse mortgage is generally an interest-only loan with no set period for the balance to be repaid by. It is basically an overdraft facility that is secured against your existing property, where interest is charged only on what you have used and is charged to your account on a monthly basis.
The majority of lenders permit you to make additional repayments, which you can redraw on as required provided there is sufficient credit available. To see if a line of credit is the right option for you visit our home loans page today.
The table below displays todaya??s lowest interest rates for 3 Year Fixed Rate Home Loans.
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