Need Extra Funds? A HELOC Might Be the Answer
Life happens — from unexpected repairs to long-term goals, sometimes you need access to cash without taking on high-interest debt. A Home Equity Line of Credit (HELOC) lets you tap into your home’s built-up equity, giving you financial flexibility when you need it most.
Whether it's a roof repair, tuition, or consolidating debt, a HELOC can offer a smart, low-interest way to access funds — without refinancing your entire mortgage.
What is a HELOC?
A HELOC is a revolving line of credit secured by your home. It allows you to borrow what you need, when you need it — and you only pay interest on the amount used. Since it’s backed by your property, the interest rate is often much lower than a personal loan or credit card.
You get the flexibility of using funds anytime — and repaying them on your schedule, with no penalties.
What can you use it for?
Just about anything, including:
- Home improvements or energy upgrades
- Education expenses or tuition
- Investment opportunities
- Emergency expenses
- Debt consolidation
Planning to renovate? Cover college tuition? Consolidate high-interest loans? A HELOC gives you that extra cushion — and peace of mind.
How much equity can you access?
Depending on your property and situation, you may be able to access:
- Up to 80% of your home’s value (including your current mortgage)
- Or up to 65% as a standalone HELOC without a mortgage attached
- You may need to refinance or requalify, depending on your lender
We’ll do the math and make it simple to understand how much is available to you.
How does a HELOC work?
Once set up, you can borrow funds as needed — just like a credit card, but with much better rates:
- Withdraw funds via debit, transfer, or cheques
- Interest-only payments are usually required monthly
- Repay anytime, in any amount — with zero penalties
- Use it as long as you like, or until you sell your home
Since it’s a variable-rate product, your interest rate may rise or fall with prime — but the flexibility often outweighs that for many clients.
What’s the difference between a HELOC and a refinance?
With a refinance, you get a lump sum as part of your new mortgage, and begin repaying right away. With a HELOC, the money stays available until you need it — and you only pay interest when you use it.
Refinances may come with lower rates than a HELOC, but they’re less flexible and may trigger prepayment penalties if done mid-term. We'll help you compare the two side-by-side so you can choose what’s best.
Get expert advice — and the lowest HELOC rate available.
We’ll shop around for you, comparing offers from trusted lenders and even your own bank.
We break down your options clearly — so you can make the right decision for your financial goals.
Our service is fast, friendly, and free — no obligation, no pressure. Just better mortgage advice that puts you first.
