Hey Mario--very informative post.
Just wondering, do Scotia and TD require a co-signer for this?
Thanks in advance.
No co-signer is required, even as a first time borrower. In the eyes of the bank you are a lower risk versus say, I don't know, a contract worker looking to take out a line of credit that is not for education advancement.This is assuming you do not have any current significant debt. As previously expressed , bring in all of your relevant documents pertaining to your liabilities (if you have any) and they will better be able to provide specifics regarding allowance and rate; each institution will vary. Apparently it can vary by branch as well. Good luck!