Home Equity Line of Credit
Calculate how much you can access through a Home Equity Line of Credit (HELOC) based on your home value, existing mortgage, and credit profile.
Property & Financial Details
HELOC Available
Estimated line of credit — lesser of equity limit (65% revolving / 80% combined) and income qualification
Interest Rate
Variable (prime + spread, est.)
Prime 4.45% (loading today's rate) + 0.75% est. credit spread
Monthly Payment
Interest only, if fully drawn
Limited by Income
GDS would be 44.1% (max 39%) / TDS 46.1% at the full equity limit (max 44% at a 7.20% stress-test rate) — limit reduced to what your income supports
Loan-to-Value Details
Important HELOC Information
• HELOC rates are variable and subject to change
• HELOC limit is capped at 65% of home value; HELOC plus mortgage combined at 80% (OSFI B-20)
• Credit score and income verification required
• Property appraisal may be required
• Minimum payment is usually interest-only on the balance used; you can repay any time
• Lenders qualify you at the stress-test rate as if the full limit were amortized over 25 years
• Rates shown are estimates (prime + a credit-based spread); lower credit scores may require an alternative lender