Make your home renovation dreams come true and work with Kay2 Contracting!

At Kay2, we know that sometimes it’s just not possible to pay for a home remodeling project with cash. Below you’ll find a number of different resources that can help you determine how to pay for your project. If you would like more information about any of the options presented below, then please get in touch with us and we’ll be happy to help!

Home Equity

Home Equity Line Of Credit

You worked hard for your home. Now make it work for you with an ATB Home Equity Line of Credit. Use the equity in your home as security to receive a preferred interest rate, and have access to money for whatever you want, whenever you want it.

Home equity can be an incredible asset, with some homeowners able to take on $100,000 projects for rates as low as $250 per month!

Features:

  • Repayment is flexible, with the option to make only required minimum monthly interest payments on the outstanding balance, or payments up to the entire balance.
  • You can also access your funds easily by using your ATB customer card, cheque, in-branch cash withdrawal, or by transferring funds through ATB Online, ATB Mobile, or telephone banking.
  • Your line of credit yours as long as you need it. You only have to apply once, and when you pay off your line of credit, it automatically renews itself so that money’s available when you need it.

Mortgage

A mortgage isn’t just a way to buy a new home. It’s also a way to take out equity in your home to complete renovations, purchase a vacation home, or consolidate debt.

While you are not given the full financial freedom to repay and borrow as revolving credit allows, you can repay as a blended payment, which lowers the amount of interest you pay over time.

Mortgage rates are also generally lower than line of credit interest rates.

Features:

  • Enjoy competitive mortgage rates.
  • Choose from variable or fixed terms.
  • There’s no minimum amount required.
  • Many refinance options are available.

No Equity? No Worries

Line Of Credit

A line of credit lets you enjoy ongoing approval to borrow funds up to a pre-established limit as often as you’d like.

It’s readily available cash that can be accessed for a variety of purposes at any time. Use it for travel emergencies, car repairs, or one-time bargains. A line of credit also protects your linked chequing account from overdrafting or from cheques being returned because of inadequate funds.

As just one example of how a line of credit could benefit you, some homeowners are able to fund $20,000 projects with payments as low as $110 per month.

Features:

  • Rates as low as prime + 3.5%*
  • The cost of borrowing is low. Pay a variable interest rate based on our prime rate and only on the amount you borrow.
  • Repayment is flexible, with the option to make only the required minimum monthly interest payments on the outstanding balance, or more — all the way up to the entire balance.
  • Access your funds easily by using your ATB customer card, cheque, in-branch cash withdrawal,or transferring funds through ATB Online, ATB Mobile, or telephone banking.
  • It’s yours for as long as you need it. You only have to apply for it once, and when you pay off your line of credit, it automatically renews itself, allowing you to access the money whenever you need it.

Personal Loan

Personal loans help you reach your personal goals such as renovating the bathroom or consolidating your debt. One of the main benefits of a personal loan is that you can borrow once and then pay the balance down on your schedule.

Features:

  • Enjoy rates as low as the prime interest rate + 3.5%*
  • Repayment terms are available from one to five years.
  • A flexible payment schedule — weekly, biweekly, semi-monthly, or monthly — lets you select what works best for you.
  • Choose from variable or fixed interest rates based on our prime rate.
  • You have the option to repay at any time, without penalty for paying off the entire balance early. Plus, you can save interest when you make payments more often.

*Rates may vary.

Would you like to learn more about how you can finance a home renovation in Calgary or Edmonton? We’re always willing to help you get the information you need to make an informed decision. Just fill out the form below and we’ll be in touch with you shortly!

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