A HELOC or home equity refinance lets you access the value you’ve built in your home — for renovations, debt consolidation, a cottage purchase, or investment. Access up to 80% of your home’s value.
Matthew will review your information and reach out within 2 business hours to walk you through your options.
Both let you borrow against your home. The right choice depends on whether you want flexibility or predictability.
A HELOC works like a credit card secured by your home. You draw funds when you need them, pay back what you use, and access the line again. Interest is only charged on the outstanding balance.
In Canada, a standalone HELOC can reach up to 65% of your home's appraised value. Combined with a mortgage, total borrowing cannot exceed 80% of your home's value.
Most HELOCs are priced at Prime + a small spread. Rates move with the Bank of Canada's policy rate. Ideal when you want flexibility and expect to pay down the balance regularly.
A home equity loan gives you a set amount upfront with predictable monthly payments over a fixed term. Useful when you need a specific amount for a defined purpose — a renovation, debt payoff, or investment.
A second mortgage is subordinate to your first mortgage. Lenders price this risk accordingly — rates are typically higher than a HELOC but far lower than credit cards or personal loans.
Private and B-lender second mortgages are available for borrowers who don’t qualify through traditional lenders — useful for credit challenges, self-employed income, or accessing equity quickly.
Your home equity is one of your most powerful financial tools. Here’s how homeowners are putting it to work.
Credit card debt at 19–28% interest costs a fraction of that when consolidated into home equity. We calculate your exact monthly savings and break-even point before recommending this approach.
Renovations increase property value while making your home more liveable. A HELOC lets you draw funds as renovation costs come in — you only pay interest on what you actually use.
Using equity from your primary home for a Muskoka cottage down payment can expand your lender options on the cottage itself and simplify the transaction. We model both paths.
Home equity is one of the most common ways to fund an investment property down payment. We review the numbers to ensure the investment cash flows at the cost of borrowing your equity.
Funding education or starting a business using home equity at mortgage rates is significantly cheaper than student loans or business credit at commercial rates.
Setting up a HELOC you don’t plan to use but have available creates a financial safety net. You pay nothing until you draw on it — it’s there if you need it.
The calculation is straightforward. Your available equity depends on your home’s current appraised value and your outstanding mortgage balance.
Lenders use the current appraised value — not your purchase price or the assessed value on your tax bill. In most cases, we order an appraisal as part of the application.
Most lenders allow total borrowing (first mortgage + HELOC or second mortgage) up to 80% of your home’s value. Example: $700,000 home × 80% = $560,000 maximum.
Maximum borrowing minus your outstanding mortgage balance = your available equity. Example: $560,000 − $310,000 outstanding = $250,000 available to access.
We run this calculation for you during your free review — including an estimate of current market value if you don’t have a recent appraisal. No obligation to proceed.
Whether you’re in Muskoka or the GTA, the process is fully online and takes 15–20 minutes to start.
A HELOC is a revolving credit line — draw what you need, pay it back, draw again. Interest is only charged on the outstanding balance. A home equity loan (second mortgage) gives you a lump sum upfront with fixed payments. HELOCs suit ongoing or uncertain expenses; home equity loans suit defined, one-time needs.
In Canada, the maximum is 80% of your home’s appraised value minus your outstanding mortgage. A standalone HELOC can reach 65% of value. We calculate your specific number during your free review — most clients are surprised by how much is available.
Yes, and it’s one of the most effective uses. HELOC rates are far below credit card and personal loan rates. Consolidating high-interest debt into your home equity can significantly reduce monthly payments. We calculate the exact savings for your situation before recommending this approach.
Yes. Adding a HELOC or second mortgage requires a full application — income verification, credit check, and usually an appraisal. If you’re renewing your mortgage, adding a HELOC at the same time can be more efficient than a separate application.
Yes. Self-employed homeowners can access a HELOC, though some lenders are stricter on documentation than others. Our brokerage identifies which lenders are most flexible for self-employed applicants with strong equity positions. The process is the same — we just know which door to knock on first.
It’s one of the most popular strategies. Using equity from your primary home for a Muskoka cottage down payment — or to purchase the cottage outright — can simplify the transaction and expand your lender options. We model both approaches and compare the total cost of each before you decide.
It depends on your age and how you want to repay it. A HELOC requires you to make at least interest payments and is available at any age with sufficient equity. A reverse mortgage is only available to homeowners 55+, requires no monthly payments at all, and is repaid when the home is eventually sold. If you're 55 or older and want to avoid a monthly payment entirely, a reverse mortgage is worth comparing side by side with a HELOC before you decide.
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