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Line of Credit or Home Equity Loan or Revolving Credit, works more like a credit card and provides increased flexibility.
Most Line of Credit facilities allow the borrower to operate their loan account as their transaction accounts, thus achieving
an “all in one” account.
Normally the borrower has their wage or salary deposited directly into the facility, which reduces
their balance, thus reducing their daily interest charge. The borrow would then normally pay all their bills using the
credit card, and access cash from their line of credit facility from a chequebook, ATM card etc.
One of the biggest advantages of a Line of Credit is that you always have ready access to money, which makes this type
of loan attractive to investors.
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| Take advantage of our free consultation services. We will come to your place of convenience whether being at home or office. | | | At RN Mortgage Zone, as an appreciation for all the support we received from our valued clients, we would like to take the opportunity to announce our special for this year. Nil application fee for all new home loans in 2007. This offer is available until further notice.
Thank you for your patronage. | | | | |
