65% / 80% LTV rules · interest-only payments · OSFI B-20 · free
HELOC Calculator Canada — How Much Can You Access?
Millions of Canadian homeowners sit on significant home equity. A HELOC lets you access it at interest-only rates — but Canadian rules cap it at 65% of home value standalone, or 80% combined with your mortgage. See exactly how much credit you have and what it costs to use it.
Educational calculators — always consult a licensed professional before making financial decisions.
HELOC limit is capped at 65% of market value for a standalone line of credit, or 80% combined with your mortgage.
If you have no mortgage (paid-off home), enter $0. The HELOC limit is your home value × 65%.
You only pay interest on what you draw. A HELOC gives you flexible access — draw and repay as needed.
HELOCs are usually prime + 0.5% to prime + 1.5%. The Bank of Canada prime rate is currently 5.45%.
HELOC Available Credit
$370,000
Max 65% standalone or 80% combined
HELOC Credit Limits
Cost of Drawing $150,000
Your Saved Scenarios
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What you'll need
- ·Current home market value
- ·Outstanding mortgage balance (or $0 if paid off)
- ·Amount you plan to draw
- ·Current HELOC rate (prime + spread)
What you'll get
- ✓Available HELOC credit — Based on 65% standalone / 80% combined LTV
- ✓Monthly interest-only payment — On the amount you plan to draw
- ✓Annual cost — Total interest cost over the year
- ✓OSFI B-20 compliance check — Whether your draw fits current rules
How it works
Enter your home value and mortgage balance
Canadian HELOC rules cap standalone HELOCs at 65% of home value, or 80% combined when combined with your mortgage (a readvanceable mortgage).
Enter your planned draw amount and rate
Interest is charged only on what you draw, not the total credit limit. Most Canadian HELOCs are priced at prime + 0.5–1.5%.
See your credit limit, monthly interest, and LTV
You'll see both your standalone and combined HELOC limits, the monthly interest-only payment on your draw, and your resulting combined LTV.
HELOC Available Credit: $900,000 Home, $350,000 Mortgage Balance
| Calculation | Value |
|---|---|
| Standalone limit (65% of $900K) | $585,000 |
| Combined limit (80% × $900K) | $720,000 |
| Less mortgage balance | −$350,000 |
| Available HELOC credit | $370,000 |
| Monthly interest on $150K draw @ 6.45% | $808 |
| Combined LTV after draw | 55.6% |
HELOC cannot be used as a down payment for an insured mortgage. Interest-only — no mandatory principal repayment.
Frequently asked questions
How much can I borrow with a HELOC in Canada?+
A standalone HELOC can go up to 65% of your home's appraised value. If combined with a mortgage (a readvanceable mortgage), the combined limit is 80% of home value. So if your home is worth $900,000 and you have a $350,000 mortgage, your HELOC could be up to $370,000 (80% × $900K − $350K).
What is the current HELOC interest rate in Canada?+
Canadian HELOCs are typically priced at prime + 0.5% to prime + 1.5%. With the Bank of Canada prime rate at 5.45% (2026), most HELOCs range from 5.95% to 6.95%. Rates float with prime — they go up or down as the Bank of Canada adjusts rates.
Can I use a HELOC as a down payment in Canada?+
No. OSFI B-20 rules prohibit using a HELOC as a down payment for a CMHC-insured mortgage. You can use HELOC funds for a conventionally mortgaged purchase (20%+ down) or for other purposes like renovations, investments, or debt consolidation.
Do I have to make principal payments on a Canadian HELOC?+
No minimum principal payments are required — you only need to pay the monthly interest on what you've drawn. This flexibility is a feature but also a risk: without a repayment schedule, balances can remain indefinitely. Many Canadians treat HELOCs as a revolving line rather than a fixed loan.
Want to try different numbers? Head back to the calculator.
Back to the calculator ↑HELOC Calculator Canada is built and maintained by the RealCostIQ editorial team. Cost ranges and rates are checked against published industry data and contractor quotes, and revised when the underlying figures move. Read our data methodology or more about who builds this. Every calculation runs in your browser — no account, and none of your inputs are stored.
Cost ranges and rates here are checked against contractor quotes and published industry data. If a number still looks off, email Support@RealCostIQ.com and we'll review and fix it.