Home Equity
Line of Credit
Use the cash in your property with a line of credit.
Is This Right for You?
If you’re a homeowner and have built equity in your property, this option could be a smart financial move.
What Can It Be Used For?
You can access part of your home’s equity to cover major expenses—like home renovations.
When to Consider a HELOC
A HELOC (Home Equity Line of Credit) is exactly what it sounds like—a revolving line of credit secured by the equity you’ve built in your home. It gives you convenient access to cash whenever you need it. A HELOC can be an excellent option if you want to:
Consolidate high-interest debt.
Fund a new investment.
Pay for home renovations or repairs.
Cover education expenses.
Finance a large purchase—or even a family vacation.
With a HELOC, your home’s equity works as a powerful financial tool to give you flexibility and peace of mind.
How a HELOC Works
A HELOC can be set up in two main ways:
As your primary loan – If your property is fully paid off, the HELOC is the only financing registered against your home.
As a secondary loan – If you still have a traditional mortgage, a lender can approve a HELOC in second position, provided you have enough equity built up.
Once approved, you can draw funds whenever you need them, up to your credit limit. The best part? You only pay interest on the money you actually use—similar to a personal line of credit, but with far lower rates.
Competitive HELOC Rates
Because a HELOC is secured by your home, the interest rates are significantly lower than credit cards or unsecured personal loans. This makes it one of the most affordable borrowing options available today. At Lendcentre, we partner with leading Canadian lenders to secure the most competitive HELOC rates in Ontario and across the country—helping you keep your monthly payments as low as possible.
Financial Flexibility at Your Fingertips
A HELOC gives you the freedom to use your funds however you choose:
Pay off debts or credit cards.
Cover medical or emergency expenses.
Finance a renovation or remodel.
Furnish and upgrade your home.
Take advantage of investment opportunities.
With one flexible product, you gain access to cash when you need it most—without the stress of multiple loans or high-interest credit.