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Online Banking

What are the terms of a RELOC

A RELOC is a line against a rental/investment home for up to 75% of the value of the home (loan to value). These accounts have 12 year term. There is a 2 year draw period in which you will pay only interest each month followed by a 10 year repayment period. The interest rate is variable, based on credit score and Loan to Value.