All Topics / The Treasure Chest / LOC?

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  • Profile photo of Ernest2Ernest2
    Member
    @ernest2
    Join Date: 2003
    Post Count: 3
    September 18, 2003 - 7:13 am

    On many messages I have seen the letters LOC. What do these mean?

    Profile photo of bensonbenson
    Participant
    @benson
    Join Date: 2003
    Post Count: 101
    September 18, 2003 - 7:19 am

    line of credit

    Profile photo of Mortgage HunterMortgage Hunter
    Participant
    @mortgage-hunter
    Join Date: 2003
    Post Count: 3,781
    September 18, 2003 - 8:36 am

    A Line Of Credit is similar to a secured credit card. The loan is approved and you are able to draw on it and pay it off as you see fit. Interest rate is a little higher but it does allow a lot of flexibility.

    It is not always necessary for an investor to have one in place.

    Cheers,

    Simon Macks
    Mortgage Hunter
    [email protected]
    0425 228 985

    Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

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