Lines of Credit

Meritline Home Equity Line of Credit

Use the equity in your home to gain access to a line of credit with a great rate.  Whatever the use, you can have access to the funds whenever you need it. 

Features and benefits of this product include:

 

  • Access up to 80% percent of the value of the home
  • Preferred rates
  • Only required to pay interest can make principal payments whenever they wish
  • Pay down meritline as quick as possible with no penalty
  • Accessed via chequing account with credit union, with debit card or via personal cheques
  • Only pay interest on the amount that is used
  • Once principal has been paid can reuse again

Personal Lines of Credit

Personal lines of credit allow you the flexibility of having the ability to access funds when you need them. 

Features and benefits of this product include:

  • Only pay interest on the amount that’s used
  • Can be secured or unsecured
  • Minimum amount 5,000
  • Accessed via chequing account with credit union, with debit card or via personal cheques
  • Can pay down as quickly as possible without penalties
  • Payment options can be changed as member desires(e.g. switch monthly to biweekly)
  • Applications can be done via internet

 

 

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