Are you a homeowner looking for extra money to boost your business or your career? Laurentian Bank has packaged a product tool kit that may be just what you need. We call it the Homeowner’s Kit!
What is the homeowner’s kit?
If you have at least 25% equity on your home, you could benefit from an efficient leverage tool to pay back loans, save money and finance new projects.
In fact, the Homeowner’s Kit regroups the Laurentian Bank’s entire line of mortgage financing products as well as the mortgage credit margin. Over time, your financing needs may evolve. The Homeowner’s Kit can provide you with flexible choices and adapt to your changing needs. How? By allowing you to modify your financing at any time so you can take advantage of interesting opportunities along the way!
THE HOMEOWNER’S KIT AT A GLANCE
- The Kit allows you to quickly and easily obtain credit so you can get your projects under way
- The Kit gives you the extra boost you need to consolidate your loans under one roof and at lower cost
- The Kit may contain:
- Several mortgage terms1
and/or - Home equity line of credit1
- Several mortgage terms1
| EACH PRODUCT HAS ITS OWN FEATURES: | |
| PRODUCT CATEGORY | PRODUCTS |
| Fixed-rate mortgage product |
|
| Variable-rate mortgage product |
|
| Adjustable rate mortgage product | Adjustable rate mortgage with variable payments |
| Home equity line of credit | - |
Have a look at these advantageous rates!
You’d like to make the most of an investment opportunity? Or maybe you’d like to centralize your loans in one single place? Consider the Homeowner’s Kit – a highly profitable turnkey solution!
| ADVANTAGES ACCORDING TO PAYMENT | ||||
| Loan | Interest rate | Monthly interest3 | Monthly payment | |
| Without the Homeowner’s Kit | ||||
| Mortgage loan | $100,000 | 6.50% | $476 | $8664 |
| Line of credit | $15,000 | 8.00% | $54 | $3045 |
| Major department store credit cards | $5,000 | 30.00% | $125 | $150 |
| Car loan | $10,000 | 9.05% | $41 | $2086 |
| Furniture loan | $10,000 | 12.00% | $56 | $2237 |
| Total With the Homeowner's Kit | $140,000 | $752 | $1,751 | |
| Mortgage | $100,000 | 6.50% | $476 | $8668 |
| Home equity line of credit | $40,000 | 4.75%9 | $86 | $41910 |
| Total | $140,000 | $562 | $1,285 | |
| Savings/ additionnal cash | $100,000 | 6.50% | $190 | $466 |
1. 1st rank conventional mortgage only representing 75% or less of the property value.
2. When offered.
3. Average monthly interest.
4. Example based on a $100,000 mortgage loan, a 5-year term, a 15-year residual amortisation period and a rate of 6.5%.
5. Example based on a $15,000 loan, a 5-year residual amortisation period and a rate of 8%.
6. Example based on a $10,000 loan, a 5-year residual amortisation period and rate of 9.05%.
7. Example based on a $10,000 loan, a 5-year residual amortisation period and a rate of 12%.
8. Example based on $100,000 mortgage loan, a 5-year term, a 15-year residual amortisation period and a rate of 6.5%.
9. Rate based on the Laurentian Bank preferential rate. The allocated interest rate depends on the financial situation of each individual client. Variable rate can be modified without notice.
10. Example based on a $40,000 loan, a 10-year residual amortisation period and a rate of 4.75%.
