Line of Credit Loans

Did you know?

• A line of credit works like a credit card but at a much lower interest rate.
• You can use a line of credit to borrow cash, and you pay interest on the outstanding monthly balance only.
• Your income is deposited directly into the loan account and is always working to reduce the balance and therefore the amount of interest you pay.
• You can withdraw any amount of funds up to your approved credit limit.
• Once you've paid the amount back, you can use it again and again without re-applying.

Investing?

A line of credit account is a popular choice for investors because they can be "Interest Only" for a longer period than most traditional loans. With most other types of loan, the maximum "Interest Only" period is usually 5 years.

Renovating a home?

A line of credit is useful if you need to access funds on an ongoing basis. For example if you are renovating your home over a period of time, you are able to draw down on the funds on an "as needed" basis up to your credit limit.

Pay off your mortgage faster

The interest on a line of credit is calculated on the daily balance of your loan. By setting up a direct deposit of your salary into the line of credit you can reduce the balance of the loan and therefore the interest you are paying.

Our consultants at Freedom Loans include qualified accountants who can show you other clever ways to cut the time taken to pay off your mortage.

Contact us now to find out more

Contact us without obligation to find out more about line of credit loans.