What do affording your dream wedding, topping up your investments and replacing the radiator in your truck all have in common? Often, the need to borrow some money. Now, don’t panic. There are many different ways to borrow, and you don’t have to tackle the decision alone.

A HELOC wants to see your dreams come true

If you’re a homeowner, and you’ve established some equity in that home (meaning your home's value is greater than the amount you owe on it) you might want to consider a home equity line of credit (HELOC). As one of the most inexpensive, versatile, easily accessible forms of borrowing, you can use a HELOC for:

• Practical purchases like a second property (for rental income), home renovations (to improve the resale value of your current home) or investments. You can even consolidate debt.
• Dreamy purchases like a tropical vacation, motorcycle, summer cabin or whatever else might be on your bucket list.

A LOC has got your back

A personal line of credit (LOC) is simply a smart idea, whether or not you need it now. Emergencies happen—vehicles break down, flights get missed, cheques bounce. Think of a LOC as your emergency backup plan.

How does it work? Much like a credit card, but with a considerably lower interest rate. Use the funds when you need them, and you only ever pay interest on the money you’ve withdrawn.

Making it happen

Think you could benefit from a HELOC or LOC? We hear you. Contact a personal banking specialist or visit a branch-- we can help you decide which line of credit option is best for making your dreams come true.