Versatile Line of Credit

Manage all your loans with one simple solution!

Is this line of credit for you?

  • You want to enjoy a simple and flexible way to manage all your financing needs in a single product.
  • You want to achieve substantial savings by combining your car, personal, mortgage, and even credit card loans.
  • You wish to use the value of your property and take advantage of a good rate.

Main feature: Mortgage-secured line of credit

Interest rate: premium rate, lower than that of a regular personal line of credit.

Amount available: Minimum of $25,000, and up to 80% of the value of your home.

Access to funds: Once the amount of your line of credit is set, you may use it according to your needs, no additional authorization required



How does it work?

Once documents are signed in the presence of a lawyer or at the Caisse populaire, and your line of credit limit is established, you no longer have to apply for additional cash advances. You can draw on your line of credit at any time to cover large expenses or to pay off your loans.

A home equity line of credit is particularly useful if you want to easily consolidate your debt by grouping your loans at a better rate or if you want to split up your mortgage to vary payment dates and interest rates. Cash advances taken out against the line of credit can be converted at any time into term loans or separate mortgages (in amounts of $15,000 or more).

Interest rate


  • Variable rate lower than a personal line of credit
  • Interest is calculated on the daily balance so you only pay interest on the amount used
Amount available
  • Minimum line of credit of $25,000.
  • Financing for up to 80% of the value of your home.
  • Loan payment frequency is flexible: daily, weekly or monthly
  • You can choose to pay:
    • a percentage of the monthly balance
    • a fixed or variable amount
    • or just the monthly interest
  • No prepayment penalties: Pay off your loan whenever you want, in part or in full, without being charged extra fees
Access to funds
  • ATM, AccèsD Internet, pre-authorized paiement, cheque, teller, bill payment
Possible uses
More information

You would like to learn more about the Versatile Line of Credit?

See these 2 exemples of how the Versatile Line of Credit can be used for a new buyer and a long-time owner.

Documents to bring to your meeting with an advisor:

  • Two identification documents
  • Proof of income (pay stub, T4, etc.)
  • Investment statements
  • Other loan statements (including consolidated loans)
  • Tax bills or leases


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