Flexible cash when you need it - at the best rates
A Home Equity Line of Credit gives you revolving access to your home equity. Draw funds as needed, repay, and draw again - only paying interest on what you use.
Get a HELOC quote →65%
Max LTV for standalone HELOC
P+0.5%
Typical HELOC rate
$0
Cost when unused
∞
Reusable credit
HELOC vs. traditional mortgage refinance
| Feature | HELOC | Refinance |
|---|---|---|
| Access to funds | Revolving - use as needed | Lump sum at closing |
| Interest | Only on amount drawn | On full amount from day 1 |
| Rate type | Variable (prime + spread) | Fixed or variable |
| Flexibility | Draw and repay anytime | Fixed payment schedule |
| Best for | Ongoing or uncertain needs | One-time large amount |
When a HELOC makes sense
A HELOC is one of the most versatile financial tools available to Canadian homeowners. Whether you prefer a lump sum (equity takeout) or revolving access, understanding the difference is key. Explore our Knowledge Hub for in-depth guides, or use our calculators to see how much equity you can access.
Ongoing renovation projects
Draw funds as each phase of your renovation progresses instead of borrowing everything upfront.
Emergency fund
Set up a HELOC and leave it untouched - a safety net at prime rate when you need it.
Debt management
Pay down credit cards with your HELOC, saving 15%+ in interest. Then repay at your own pace.
Business cash flow
Self-employed? Use a HELOC to smooth business income gaps at a fraction of business loan rates.
Get your HELOC set up
We compare HELOC rates from 65+ lenders to find you the best spread over prime.
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