FinviloNational Bank of Canada
All-In-One
National Bank home equity line of credit that can finance a purchase or refinance.
- Uses
- Finance all your projects with a single line of credit
- Fees
- $7 per month, per bank account, unlimited transactions
HELOC
Part of Mortgages
Compare mortgages by rate, term, repayment flexibility and the cost of changing or ending the loan. The lowest advertised rate may come with restrictions that matter later.
Compare the 5 listed products below. Open a product for its terms and source links. Missing terms are not confirmed.
CIBC
CIBC Home Power Plan
CIBC plan combining a mortgage and home equity line of credit.
- Maximum amount
- Up to 80% of the value of your home
- Structure
- Line of credit and mortgage under one plan
- Interest
- Only pay interest on the amount you use
RBC Royal Bank
RBC Homeline Plan
RBC's combined mortgage and home equity line of credit.
- Structure
- Combines your RBC Mortgage and Royal Credit Line into one product that lets you access your home equity
- Maximum amount
- Borrow up to 80% of the value of your home
- Prepayment
- Line of credit portion can be repaid at any time without penalties or prepayment charges
Scotiabank
ScotiaLine Personal Line of Credit (real estate secured)
Scotiabank real estate secured line of credit eligible for Scotia Total Equity Plan.
- Rate
- Secured borrowing rates
- Eligibility
- Eligible product for Scotia Total Equity
TD Canada Trust
TD Home Equity FlexLine
Home-equity borrowing for larger expenses such as renovations. The home supports the borrowing and is at risk if obligations are not met.
- Fees
- Not confirmed.
- Borrowing ceiling
- Up to 80% of home value; not a statement that the full amount is revolving credit.
- Collateral
- Home equity.
- Minimum payment
- Interest-only minimum payments displayed.
What to check before choosing heloc
Rate and term
Understand fixed versus variable rates and distinguish the mortgage term from amortization.
Flexibility
Check prepayment privileges, portability and refinancing conditions.
Other costs
Ask about penalties, appraisal fees, legal costs and discharge fees.
Your rate and approval depend on lender criteria and your circumstances. Confirm provincial legal costs and requirements.
Before you visit a provider
Confirm current fees, rates and eligibility directly with the provider. Product terms can change over time. A listed product is not a recommendation or a promise of approval.
Availability must be confirmed for your province or territory. If product-specific location or eligibility information is missing, it is not confirmed.
For further guidance, visit Financial Consumer Agency of Canada.
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