A home equity line of credit lets you borrow against the equity you've built. In Canada a HELOC is capped at 65% of your home's value on its own, and 80% when combined with your mortgage. Enter your numbers to see your available credit.
How this works. In Canada a HELOC is limited to 65% of your home's appraised value on its own, and your mortgage plus HELOC combined can't exceed 80% of the value — your available credit is whichever limit is lower. HELOCs are revolving and usually require at least the monthly interest; the rate is variable and moves with prime. Actual limits also depend on your income, credit, and the lender's own rules. This is an independent tool, not a credit offer or financial advice.