This week, Creditas, the Brazilian fintech that offers cheap credit as equity for automobiles, real estate property and salary, has announced changes to its home equity line.

Now, those who choose a home equity loan will have a pre-approved limit to use as many times as they want. In addition, the initial interest rate of this credit line fell from 0.99% to 0.89% per month–the lowest rate available on the Brazilian market today, according to Creditas itself.

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Creditas usually lends the equivalent of up to 60% of the property value, within up to 240 months. Prior to this change, the customer was allowed to borrow a certain amount. At the end of this first contract, if he wanted a new loan, he had to start a new evaluation and hiring process. Now, the customer has a pre-approved limit to use as many times as he wants and in the way that suits him best.

In the case of a customer who has a property valued at $500,000, for example, the amount borrowed may reach a total of $300,000 (60% of the value of the property). If the customer first borrows $100,000, they will have another $200,000 available to be redeemed in the future for as many withdrawals as he wishes.

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For Fabio Zveibil, VP of Business Development at Creditas, the new conditions give more flexibility of use for the home equity line.  “We want Brazilians to increasingly have access to quality credit, easy, fast and with installments that fit their monthly income,” he told in a press release.

The registration of the property continues to be made through chattel mortgage, and it will be made only once, at the time the credit is contracted. Whenever they wish, customers can also negotiate the advance payment of their contracts.