HELOC Calculator
Estimate how much you can borrow with a home equity line of credit and what the interest-only payment would be, based on Canada's 65% standalone and 80% combined lending limits.
Your home equity today: $400,000. HELOC rates are variable and typically sit around prime + 0.5%.
Available HELOC credit
A home equity line of credit lets you borrow against the equity you've built, drawing funds as needed and paying interest only on what you use. Canadian rules cap a standalone, revolving HELOC at 65% of your home's appraised value.
When a HELOC is combined with your mortgage, the total you can owe against the property is limited to 80% of its value. So your available credit is the lower of 65% of the home's value, or 80% of value minus your current mortgage balance — whichever leaves less room.
HELOCs carry a variable rate tied to prime, and most require only interest payments each month. That flexibility is powerful, but because nothing forces you to repay principal, it's wise to set your own repayment schedule. Compare the cost against a fixed second mortgage or a refinance before you decide.
Related tools & guides
Refinance Calculator
Compare tapping equity via a HELOC versus refinancing your mortgage.
Debt Consolidation
See if rolling high-interest debt into your home lowers your payments.
Mortgage Calculator
Model your primary mortgage payment and amortization.
Canadian Bank Rates
Check the current prime rate that drives HELOC pricing.
Prepayment Calculator
See how paying down your mortgage frees up HELOC room.
Mortgage Glossary
Understand equity, revolving credit, and prime rate.
Related guides
Compare Your Borrowing Options
See whether a HELOC, a refinance, or debt consolidation saves you the most.