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    HELOC Calculator

    Calculate your available Home Equity Line of Credit and monthly interest-only payment based on Canada's 65% standalone / 80% combined LTV rules.

    $600,000
    $200,000$2,000,000
    $300,000
    $0$1,500,000
    $50,000
    $5,000$180,000
    7.2%
    4%15%

    Max HELOC Available

    $180,000.00

    Based on 80% combined LTV rule

    Home Equity

    $300,000.00

    50.0% of home value

    Monthly Interest-Only Payment

    $300.00

    On $50,000.00 drawn

    Combined LTV After Draw

    58.3%

    ✓ Within limit

    Canadian HELOC Rules: Standalone HELOC max is 65% LTV. Combined mortgage + HELOC cannot exceed 80% LTV. Variable rate typically prime + 0.50%–1.00%.
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    How HELOC payments work in Canada

    A home equity line of credit (HELOC) lets you borrow against the equity in your home. In Canada, the combined total of your mortgage and HELOC can reach up to 80% of your home's value, and the revolving HELOC portion itself is capped at 65% of the value.

    HELOC rates are variable and usually priced at prime plus 0.5% to 1%. Most lenders only require interest-only minimum payments, so your balance does not shrink unless you pay more. This calculator shows both the interest-only minimum and what it takes to clear the balance on a schedule.

    Because the rate follows prime, every Bank of Canada rate change moves your payment. Budget for a rate 1–2 points higher than today's so a hike doesn't strain your cash flow.

    Common questions

    How is HELOC interest calculated?
    Interest is charged daily on the balance you've drawn, at your variable rate divided by 365, and billed monthly.
    Is a HELOC cheaper than a personal loan?
    Usually, because it's secured by your home. The trade-off is that your home is at risk if you can't repay.

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