With the last days of summer drawing near, you are probably on the lookout for a new project. You are wondering what you could do or work on and suddenly it comes to you: your home. Whether you plan to buy, sell or renovate your home, National Bank has a range of financing products to help you out.
If you are looking for peace of mind, you may want to consider a fixed-rate mortgage with set monthly payments for the entire term of the loan. Not sure what is best for you? Try a madeto-measure mortgage, where part of your loan is financed at a fixed rate and part at a variable rate.
National Bank All-In-One Banking1, ™
You love your home, but let’s face it, it’s really due for major upgrades. And our All-In-One Banking home equity line of credit2 is just what you need to get things done. With the National Bank AllInOne Banking, you can easily access your funds by cheque or via our Electronic Banking Solutions, make flexible payments, and choose your repayment schedule. You can also borrow3 up to 80% of the net value of your home. So how about building that extension you have been dreaming of?
Lines of credit1
If small fixes here and there is all you have in mind, a Personal Flex Line®1 or Home Improvement Line of Credit might be a better option. Both lines of credit let you borrow money4 to finance your projects, and you can access your funds by cheque, at National Bank counters or ABMs, or by using your Client Card, TelNat or our Electronic and Mobile Banking Solutions. What’s more, you will pay interest only on what you borrow.
If all you need for your project is a one-time loan and you already know what repayment plan to choose, a personal loan could be the answer. Whether you need $5,000 or more for your project, you will receive it all as a lump sum. You can then repay your loan by making fixed weekly, bi-weekly or monthly payments.
No matter how big or small your project, we can provide you with flexible solutions tailored to your needs. Please contact your mortgage development manager to learn more about our financing solutions and eligibility requirements.
The contents of this document are provided for information purposes only, and are not comprehensive. They do not create any legal or contractual obligations for National Bank or its affiliates. For financial advice or information on your financing options, please consult your National Bank advisor or an industry professional (e.g., accountant, tax specialist or lawyer).
™National Bank All-In-One Banking is a trademark of National Bank of Canada.
®1 Personal Flex Line is a registered trademark of National Bank of Canada.
1 The financing solutions described here are subject to credit approval by National Bank of Canada. Some conditions apply.
2 A maximum amount equivalent to 65% of the value of the property may be in the form of a line of credit, and the rest of the financing has to be in the form of a mortgage loan. For example, if the value of the property is $100,000 and you have an amount of $20,000 available for down payment (20% of the value of the property, which is the minimum required), the authorized credit limit of the All-In-One will be $80,000. However, of this $80,000, up to $65,000 will be in the form of a line of credit and the rest will be in the form of a mortgage loan.
3 Minimum credit limit: $25,000
4 Minimum credit limit: $5,000
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