Questions tagged [line-of-credit]
The line-of-credit tag has no usage guidance.
32
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Market Line of Credit vs Debt - where to prioritize?
Scenario
I have an etrade Line Of Credit that is leveraged against a brokerage account with rather aggressive nyse etfs (heavy in nasdaq).
Brokerage acct total 330k
LOC total 150k
Rather than pay ...
- 943
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2
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515
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Can/should you pay the down payment for your house on a line of credit?
I’m a first time home buyer in Canada. I need to pull together ~40K to cover the down payment on a house. I have investments which would cover this cost (mostly in total US market index funds). ...
- 2,592
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724
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How/why to borrow against assets?
I have read/heard that the ultra wealthy manage to avoid paying capital gains taxes on their wealth by simply borrowing against their assets at very low interest rates. Conceptually this makes sense ...
- 2,898
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345
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Buying a house with credit line and getting a mortgage later
We are considering buying a house for about $150-160 thousand.
We recently moved, and my wife has been on maternity leave benefits for a year now. So, proof of income is basically non-existent.
We ...
- 147
2
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1
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158
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Paying for Spouse's Education with Savings vs Line of Credit vs RRSP (LLP)
My partner is currently going to school with no income, and I have been working for a number of years with a reasonable income (enough for savings, RRSP (Registered Retirement Savings Plan) , trips ...
- 143
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3
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15k
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Does a declined request to increase my credit limit hurt my credit score?
If I’m eligible for a line of credit increase request on my credit card, request one, but am declined one, does it hurt my credit score? If it can hurt my credit score, is it situational or does it ...
- 640
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1
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290
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Using a line of credit for long-term investing
I have recently opened an unsecured line of credit for $20k at 1%. I have a savings account at the same institution making 1.5% - both compounded daily and paid monthly.
I've read a few questions on ...
- 143
2
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356
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Is there such a thing as a BELOC (Business Equity Line of Credit), like a HELOC?
A colleague of mine has some rental properties, both with mortgages a home with a HELOC and an office building that is used as a chiropractic office. The top floor of that building is residential and ...
- 123
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137
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Some companies charge a fee for using their credit card. What is this fee called?
I need to know what do they call this type of fee?
- 111
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136
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If/When the Fed raises the interest rate, how much will this affect my ARM?
I have a home equity line of credit with an adjustable rate. Currently (as it has been for quite some time), it's sitting at 3.5%. I understand that we're not sure how much interest rates will rise, ...
- 14k
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468
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Brainstorming: Homebrew "credit" card?
In response to another question (about how to make credit cards pay interest on any positive balance), I came up with an odd combination: Get an account with both a debit card and a linked overdraft-...
- 49.1k
36
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6
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Is there an advantage to keeping a liquid emergency fund if one also has an untapped line of credit?
I've seen several financial advice websites and books that recommend keeping some amount of money (usually a function of your monthly expenses) in cash as an emergency fund. See for example questions ...
- 548
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2
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278
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What can i use as collateral for a secured line of credit except my home
In Canada, a very common type of secured loan is a HELOC (Home Equity Line of Credit).
Now, what else except a home can I use as collateral for a Secured Line of Credit?
- 16k
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127
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Is it possible to use an RRSP mortgage to pay off a line of credit?
I'm told that the only requirement for obtaining an RRSP mortgage loan, is having the mortgage insured by a recognized mortgage insurer - and that the insurers can sometimes be negotiated with, with ...
- 1,659
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299
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Personal Line of Credit and Credit Utilization rate
Let's say I have a Personal Line of Credit for 20,000. If I use 80% of it, will it have the same effect (on Credit Scores) as that of a Credit Card with 80% utilization?
- 582