We are a retired couple purchasing a new home for cash and would like to arrange a Secured Line of Credit ("LOC") for the maximum amount (80 % LTV) at the best interest rate possible to enable us to use our equity for other investments. Our previous LOC with BMO had an interest rate of Prime less one half per cent and the bank placed it without charging any appraisal or other fees. The problem is that they would only go 35% of the value of the property. Can anyone tell me from there experience where we might find a better deal and the interest rate.