What's the difference between a HELOC and refinancing?

A HELOC is a revolving line of credit that you can draw from as needed, while refinancing replaces your existing mortgage with a new one. A HELOC offers more flexibility but typically has variable rates.

How much can I borrow with a HELOC?

You can borrow up to 65% of your home's appraised value, minus your outstanding mortgage balance. Combined with your mortgage, total borrowing can reach 80% of your home's value.

Do I need to use the full amount?

No. A HELOC is a revolving credit facility. You can use as little or as much as you need, and you only pay interest on the amount you've drawn.

Is the HELOC interest rate fixed or variable?

HELOCs typically carry a variable interest rate tied to the lender's prime rate. Some lenders offer the option to lock in portions of your balance at a fixed rate. We help you find the best HELOC structure for your needs.

Mortgage Service

Home Equity Line of Credit (HELOC)

Flexible access to your home's equity when you need it

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Overview

Home Equity Line of Credit (HELOC) in Ontario

A Home Equity Line of Credit (HELOC) gives you revolving access to funds secured against your home's equity. Use it for renovations, investments, education, emergencies, or any major expense. You only pay interest on what you use, making it one of the most flexible and cost-effective borrowing options available.

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Benefits

Benefits of a HELOC for Ontario Homeowners

Access up to 65% of your home's appraised value
Revolving credit - borrow, repay, and borrow again
Interest-only payments on the amount used
Lower interest rates than credit cards and personal loans
Funds available whenever you need them
Can be combined with a mortgage (collateral charge)

A Home Equity Line of Credit (HELOC) gives you flexible, revolving access to your home equity at competitive interest rates. Unlike a traditional mortgage refinance that provides a lump sum, a HELOC works like a credit card secured by your home - you draw funds as needed and only pay interest on the amount used.

In Ontario, you can access up to 65% of your home's appraised value through a HELOC (combined with your existing mortgage, the total cannot exceed 80% of the property value). HELOCs are ideal for home renovations, investment opportunities, education expenses, or as an emergency fund. The interest rate is typically prime plus a small margin, making it one of the most affordable borrowing options available.

We compare HELOC products from 40+ lenders to find you the best rate and most flexible terms. Whether you need a standalone HELOC or a combination mortgage-HELOC product, we structure the solution that best fits your financial goals across Brampton, Toronto, Mississauga, and all Ontario communities.

How It Works

How to Get Approved for a HELOC

We have streamlined the mortgage process to make it as smooth and stress-free as possible.

Equity Assessment

We determine how much equity you have available and your borrowing limit.

Application

We submit your application with property details and income documentation.

Appraisal

A property appraisal confirms your home's current market value.

Setup

Once approved, your HELOC is set up and funds are accessible immediately.

Areas We Serve

HELOC Services Across the GTA & Ontario

We provide home equity line of credit (heloc) services to clients across the Greater Toronto Area and all of Ontario. In-person and virtual consultations are available.

Find Your Nearest Office

Brampton

Toronto

Mississauga

Vaughan

Markham

Richmond Hill

Oakville

Burlington

Hamilton

Oshawa

Whitby