Fixed rate or credit financing?
Line of credits are considered an open rate term which means that it can fluctuate at any given time but ultimately tries to offer it's applicants the best possible rates. As appealing as this sounds to some, this variable rate often leaves applicants having a lot of issues respecting their initially set payment plan and leaves them paying enormous amounts of interests that often puts them in a bad financial situation. Because a line of credit is open it also gives the financial institution the power to take back the loan at any given time if it has enough reasons to believe that you are unable to pay the loan back (Job loss, bad economic state, market crashes... etc)
Our financing option offered is a closed term interest rate loan that takes everything in account in advance with a fixed payment plan that covers many emergency situations. In many occasions, a fixed term loan option may even have a lower monthly installment payments than what the line of credit may offer.
By opting for this option, this leaves the line of credit available for what it was actually intended for like; fast money access in case of emergency renovations or any needs of quick emergency funds.