Weigh the pros and cons

There are pros and cons associated with each option. Typically, with a traditional refinance , you'll have:

Lower interest rates, but higher closing costs

Lower payments

Longer minimum loan terms

More fixed-rate options

With a Quality E-Business (QEB) Solutions Limited Refinance, you'll have:

Lower costs than a traditional refinance

Competitive fixed rates

Flexible repayment terms available

And with a home equity loan or line of credit, you can expect:

Lower closing costs, but higher interest rates

The ability to borrow up to 89.9% of your home's market value

Consider the benefits

A Home Equity loan or line of credit gives you cash that you can use any way you wish. You can:

Borrow up to 89.9% of the fair market value of your home.

Interest rates are typically lower than credit cards and other loans.

The interest paid may be tax-deductible; consult a tax professional to assess your situation

Understand the risks

Since a Home Equity loan uses your home as collateral, you also need to consider potential risks:

You can lose your home for missing payments.

The maximum amount borrowed is a portion of your home's value which is determined by the market so if the market takes a down turn you can owe more than your house is worth.