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What’s the difference between a mortgage and a home equity line of credit?
A mortgage, whether fixed, variable or made-to-measure, allows you to borrow the amount you need to buy your home, which then acts as the collateral for the loan. You repay the loan in instalments and pay interest.
The All‑In‑OneTM Home
Equity line of credit allows you to finance the purchase of your
home and access the money you need for other projects without
having to reapply for additional credit.
Are you making a down payment of at least 20%? Opt for the
made-to-measure mortgage, a flexible financing option that
divides your loan into a mortgage portion and a line of credit
portion.
Want to learn more?
-
Read our article on
the line of credit to see its benefits.
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Discover how a line of
credit could help you renovate your home.
Need advice?
Legal disclaimers
TM The All-In-One Line of Credit is a registered trademark of National Bank.
Related questions
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How does the All-in-One home equity line of credit work? The All-in-One home equity line of credit allows you to finance your projects without having to request additional credit. -
How do I manage my municipal and school tax payments? Manage your municipal and school tax payments. -
How do I view my annual mortgage document online? Access your annual mortgage document from your online bank or the National Bank app. -
How much can I afford to pay per month for my mortgage? Calculate your monthly mortgage payments with our calculator to get an estimate of what your payments could look like. -
How much can I borrow for my mortgage? See how much you can borrow for your mortgage in just a few clicks with our mortgage pre-approval calculator.
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