How much home equity can I borrow?
Enter what the home is worth and what you owe on it. The calculator applies the federal limits for lines of credit secured on a home, then shows the monthly interest on the amount you plan to use.
Your estimate
What the calculator assumes.
Limits. Lenders regulated by OSFI cap the revolving part of a home equity line of credit at 65% of the home value, and all borrowing secured on the home at 80%. Source: OSFI Guideline B-20. Your lender may offer less, depending on your income, credit and the property.
Payments. Most lines of credit only require the interest each month. The rate is variable and moves with the prime rate, so the payment changes. Paying only interest never reduces what you owe.
Learn more. The Financial Consumer Agency of Canada explains how home equity lines of credit work.