An Integrated Financing Solution
For mortgage broker use only
The Homeowner’s Kit Advantage
A solid foundation can lead to greater Advantages floor to ceiling
financial freedom The Homeowner’s Kit is a smart and flexible
financing solution for all your clients’ borrowing
Whether it’s paying down debt, undertaking home needs. Here are just a few advantages:
renovations, or simply handling day-to-day expenses, • Low interest rates across all credit options.
many people seem to be feeling the financial squeeze. • Each net dollar paid back becomes a dollar of
But few realize there’s something close at hand that available credit.
can help them manage all of their credit needs. • Choice of term, rate and payment frequency for
each credit option.
Your client’s home now offers them a way to quickly • A one-time application allows access to all
available funds — no additional forms or special
access funding, better manage their borrowing requests required.
needs . . . and lay the foundation to achieve greater • Choice of payment amount for home equity line
financial freedom. It’s called the Homeowner’s Kit. of credit includes interest only, fixed sum or a
percentage of the balance.
And it’s only available from Laurentian Bank of Canada.
• Access funds by cheque, ABM2, Telebanking
or online, linked to each home equity line of
The Homeowner’s Kit is a smart and flexible financing credit account.
solution for all your clients’ borrowing needs.
An integrated financing solution Easy access to more credit
The Homeowner’s Kit provides borrowers with a convenient way
to unlock the equity they’ve built up in their home and use that At Laurentian Bank, we register the Homeowner’s
Kit for the full appraised value of the home and not
capital however they wish. simply for the credit limit originally issued. That
means that in the future your client can access
Here’s how it works: The Homeowner’s Kit brings together two credit up to the appraised value of their home with
credit products — a mortgage and a home equity line of credit no additional paperwork or legal fees.3
— into one easy-to-use lending solution.1 This single source of
financing can be split six ways in any combination of up to three
different mortgage types or terms and up to three separate
lines of credit. And all this can be accessed through a single,
Another key benefit of the Homeowner’s Kit is that it allows your
client to take advantage of interest rates that are lower than most
other financial products. That could mean savings of hundreds of
dollars or more — each and every year.
Easy-to-use and quick to set up
Once approved and after all of the usual appraisal and legal fees
have been paid, your client can take advantage of a full range
of credit options. There’s no need to reapply or renegotiate any
of the legal or financial terms beyond the rates and the
Real estate continues to be the largest single financial asset of most Canadians. At Laurentian Bank,
we’re committed to helping your clients make the most of what they own in order to build and sustain
a strong and healthy financial future.
Equity means opportunity Popular uses for a home
Who can qualify for the Homeowner’s Kit? A lot of homeowners equity line of credit:
and likely a good many of your clients as well. More specifically,
those who are ready to negotiate or refinance their mortgage • Home improvements
and have at least 20% equity in their home can qualify. • Investment opportunities
• College or university expenses
Let’s work the numbers
• Emergency funds
To determine the amount of available credit, take 80% of the
Remember, your client can have up to three
current home value and subtract the outstanding mortgage balance
separate home equity line of credit accounts
in the account4: to keep track of separate projects and
access them separately through debit cards,
CALCULATING THE EQUITY cheques and ABMs. And these accounts
can have flexible or fixed payment terms,
Current home value $175,000 depending on your client’s financial plans.
80% of home value $140,000
Mortgage balance in account #1 - $100,000
Available credit in home equity line of credit $40,000
As you can see, if your client were to take advantage of the Homeowner’s
Kit, they would have $40,000 in available credit in their home equity line of
credit after setting up their mortgage.
A closer look
The tables below show the financial picture without the Homeowner’s Kit
and just how much your client could save with the Homeowner’s Kit.
FINANCIAL PICTURE WITHOUT THE HOMEOWNER’S KIT
Loan Interest Monthly Monthly
amount rate interest5 payment
Mortgage loan $100,000 6.25% $457 $8536
Car loan $10,000 9.05% $41 $2087
Home improvement loan $10,000 12.00% $56 $2228
Unsecured line of credit $15,000 8.00% $54 $3049
Store credit card $5,000 30.00% $78 $16210
Total $140,000 $686 $1,749
FINANCIAL SAVINGS WITH THE HOMEOWNER’S KIT
Mortgage loan $100,000 6.25% $457 $8536
Available credit in home
equity line of credit:
$40,000 3.50%11 $62 $39612
Account # 1 Car loan $10,000 3.50% $15.50 $99.00
Account # 2 Home $10,000 3.50% $15.50 $99.00
improvement loan $20,000 3.50% $31.00 $198.00
Account # 3 Consolidated debts
Total $140,000 $519 $1,249
$167 interest $500 dollar
Savings/additional cash $167 $500 savings per month savings per month
For more information or to contact one of our
Mortgage Business Development Managers, please visit
b2btrust.com/contactus to locate the manager nearest you.
Unless otherwise indicated, the contents of this brochure are provided for information purposes only and do not constitute an
offer to purchase or sell the products or services of Laurentian Bank, its subsidiaries or its affiliates (collectively
“Laurentian Bank”). This information is of a general nature and is not intended as specific investment, financial, accounting and
legal or tax advice for any individual and should not be relied upon as such. Calculations on projections are provided for general
illustrative purposes only. Information provided is believed to be accurate when released. Each product and service is subject to an
agreement containing the applicable terms and conditions.
First rank conventional mortgage only representing 80% or less of the property value. 2Automated Banking Machine. 3Subject to
an increase in property value. 4Subject to credit approval. 5Example of average monthly interest. 6Example based on a $100,000
mortgage loan, a 5-year term, 15-year amortization period and a rate of 6.25%. 7Example based on a $10,000 loan, a 5-year
amortization period and a rate of 9.05%. 8Example based on a $10,000 loan, 5-year amortization period and a rate of 12%.
Example based on a $15,000 loan, 5-year amortization and a rate of 8.00%. 10Example based on a $5,000 outstanding balance,
5-year amortization and an interest rate of 30.00%. 11Rate based on the Laurentian Bank line of credit base rate. The allocated
interest rate depends on the financial situation of each individual client. Variable rate can be modified without notice. 12Example
based on a $40,000 loan, 10-year amortization period and a rate of 3.50%.
All mortgages are funded by, and registered in the name of Laurentian Bank of Canada, and administered and serviced by B2B Trust.
B2B Trust is a wholly-owned subsidiary of Laurentian Bank of Canada.
B2B TRUST is a registered trademark of B2B Trust.
603-08-052E (07/30/2010) For mortgage broker use only