Buyer Tools
HELOC Calculator Canada — Home Equity Line of Credit Limit
Calculate your available HELOC room in Canada. Based on the 80% combined LTV rule and 65% HELOC cap. See how much equity you can borrow against.
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Frequently Asked Questions
What is the maximum HELOC limit in Canada?+
In Canada, a HELOC cannot exceed 65% of your home's value on a standalone basis. If combined with a mortgage, the total borrowing (mortgage + HELOC) cannot exceed 80% of your home's appraised value. You must have at least 20% equity to access a HELOC.
What is the interest rate on a HELOC in Canada?+
Canadian HELOCs are typically priced at prime rate plus a spread (often prime + 0.5% to prime + 1%). Because they are variable-rate products, your payment fluctuates with the Bank of Canada's policy rate decisions.
What can I use a HELOC for in Canada?+
HELOCs can be used for almost any purpose — home renovations, investment down payments, debt consolidation, or emergency funds. Interest may be tax-deductible if the funds are used to earn investment income. Consult a tax professional.
Do I need a home appraisal to get a HELOC?+
Lenders typically require an appraisal or automated valuation to determine your home's current market value before approving a HELOC. The loan amount is based on the appraised value, not your purchase price or assessed value.