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A family of three works on a construction project. The mother, wearing work gloves, a tool belt and protective eyewear perched on top of her head, measures a piece of wood while the father and daughter look on.

HOMEOWNER’S KIT

All the tools you need.

If you own your home and are looking for extra money to invest or want to make home improvements, then we have a tool kit to help you out. We call it the Homeowner’s Kit.1

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What’s the Homeowner’s Kit?

If you own at least 20% of your home, you could leverage it to pay back loans, save money and finance new projects.

The Homeowner’s Kit brings together Laurentian Bank’s entire line of mortgage products and line of credit.

As your financing needs change, the kit can give you flexible choices that let you change your financing at any time. That means you can take advantage of new and exciting prospects.

The benefits of the kit.

Easy access to funds.

Get quick and easy access to credit, so you can kickstart your projects.

Streamline to save.

Consolidate your loans and enjoy lower costs.

Customized options.

Each product is unique. It may include several mortgage terms,2 home equity lines of credit,2 or both.

Choose your financing.

Fixed-rate mortgage.

  • With cashback

  • Without cashback

  • Promotional fixed rate3

Variable-rate mortgage.

  • Variable-rate mortgage with variable payments

Home equity line of credit.

Rates that will move you.

We’ve crunched the numbers to show how much you can save with the Homeowner’s Kit. Without the Homeowner’s Kit

$150,000

3.99%

$461

$906 5

$15,000

9.00%

$61

$311 6

$5,000

20.00%

$45

$150 7

$10,000

7.00%

$30

$197 8

$180,000


$597

$1,564

Loan product

Mortgage loan

Loan amount

Interest rate

Monthly interest4

Monthly payment

Personal line of credit

Loan amount

Interest rate

Monthly interest4

Monthly payment

Major department store credit card

Loan amount

Interest rate

Monthly interest4

Monthly payment

Car loan

Loan amount

Interest rate

Monthly interest4

Monthly payment

Total

Loan amount

Interest rate

Monthly interest4

Monthly payment

With the Homeowner's Kit

$150,000

3.99%

$461

$906 5

$30,000

4.75%9

$64

$314 10

$180,000


$525

$1,220



$864

$4,128

Loan product

Mortgage loan

Loan amount

Interest rate

Monthly interest4

Monthly payment

Home equity line of credit

Loan amount

Interest rate

Monthly interest4

Monthly payment

Total

Loan amount

Interest rate

Monthly interest4

Monthly payment

Annual savings

Loan amount

Interest rate

Monthly interest4

Monthly payment

Helpful tips and resources.

Your questions answered.

Laurentian Bank: Laurentian Bank of Canada.

  1. Subject to credit approval. Certain conditions apply.

  2. 1st rank conventional mortgage only representing 80% or less of the property value.

  3. When offered.

  4. To ensure that the calculations in the table above are accurate, some amounts have been rounded. Average monthly interest (total amount of interest paid during the term divided by the number of payments made).

  5. To ensure that the calculations in the table above are accurate, some amounts have been rounded. The monthly payment example includes principal and interest. Example is based on a $150,000 mortgage with a 5-year term, a residual amortization period of 20 years and an interest rate of 3.99%, which is equivalent to the APR.

  6. Example is based on a $15,000 balance amortized over 5 years with an 9.00% interest rate, which is equivalent to the APR.

  7. Example is based on a $5,000 balance amortized over 49 months, a monthly payment of $150, and a 20.00% interest rate.

  8. Example is based on a $10,000 loan with a 5-year term and a 7.00% interest rate, which is equivalent to the APR.

  9. Example based on a line of credit base rate of 6.20% minus a client rate adjustment of 1.45%. The applicable interest rate depends on the client’s financial situation. The line of credit base rate can change at any time without notice.

  10. Example is based on a $30,000 balance, a 10-year amortization period and a 4.75% interest rate, which is equivalent to the APR.