Unsecured Line Of Credit Table Canada What Is A Secured Line Of Credit And An Unsecured Line Of Credit?

What is a secured line of credit and an unsecured line of credit? - unsecured line of credit table canada

A line of credit is usually an upper limit (at least $ 25,000) and lower interest rates (often in "premium") because they use at home or investment as collateral.

An unsecured line of credit is usually for a lower limit, and a slight increase in interest rates, since there is no guarantee ... its limit is determined by its ability to pay.

They are essentially "open loan" ... where they always have money available if necessary. It is not necessary for individual loans for the purchase.