Secured Line of Credit
The HilLOC (Hillmount Capital Secured Line of Credit) is similar to a HELOC. Approved funds are available as needed providing borrowers with flexibility and peace of mind. The HilLOC is a private lending product and doesn’t affect credit scores.
Contact deals@hillmount.ca for a copy of our HilLOC lending guidelines.
With a secured line of credit, borrowers can unlock the equity in their property to help in situations such as the following:
- Debt consolidation
- Bridge and interim financing
- Large purchases
- Deposits
- Multiple/staggered payments
- Emergency funds
- Tax minimization purposes
- Working capital
LOAN CRITERIA
Where we lend:
- Ontario
What we offer:
- Lines starting at $500,000
- Minimum draw amount of $20,000
- Term 6-24 months (longer terms available)
- Residential and commercial properties
- Open to payment/readvance in full or in part at any time without penalty
- LTV up to 65%
What we require:
- Application, credit bureau, appraisal