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🍁Home Equity Line of Credit (HELOC)Canadian rules
CLTV cap: 80%HELOC cap: 65%Max available: $100,000Stress-adj: $0
🏠EQUITY
$100,000
available HELOC
Current LTV
60.0%
CLTV (proposed)
76.0%
💰COST ANALYSIS
$138,630
total interest (30yr)
Interest only/mo
$513
P+I repayment/mo
$654
🔧USE CASES
$513
reno interest/mo
Debt consol monthly
$654
Investment monthly
$513
Equity & Borrowing Limit
🏡Property & HELOC
Home value
$
Mortgage balance
$
Outstanding principal today.
HELOC rate
% / yr
Typically Prime + 0.25–0.50%.
Desired HELOC amount
$
Max available: $100,000
📅Draw & repayment terms▲
Draw period
yr
Typically 10 years - interest-only payments.
Repayment period
yr
Typically 20 years - P+I payments.
🧾Income & housing costs▲
Gross annual income
$
Used for GDS/TDS stress test.
Monthly debt obligations
$
Credit cards, car loans, student loans.
Property tax (annual)
$
Condo fees (monthly)
$
Home insurance (annual)
$
Heating (monthly)
$
⚠ Notices
• Stress test reduces available HELOC to 0 (GDS 46.6%, TDS 55.3%)
Available HELOC
$100,000
Meets 80/65 rules
Current LTV
60.0%
Mortgage ÷ home value
Proposed CLTV
76.0%
(Mortgage + HELOC) ÷ home value
🏠Home equity breakdown
Mortgage: $300,000HELOC available: $100,000Unused equity: $100,000
Home value$500,000
Mortgage balance$300,000
80% CLTV limit$400,000
65% LTV cap (HELOC)$325,000
Available HELOC$100,000
Desired amount$80,000
Stress-adj limit$0
Unused equity$100,000
◔Equity by value - pie
🏠Canadian HELOC rules
▸CLTV 80% cap: Your mortgage + HELOC combined cannot exceed 80% of your home's appraised value. This is the government rule for federally regulated lenders.
▸HELOC-only 65% cap: The HELOC portion alone cannot exceed 65% of your home value - even if the combined 80% limit allows more.
▸Variable rate (Prime-based): Most Canadian HELOCs are priced at Prime rate + a spread (e.g., Prime + 0.50%). The rate floats with the Bank of Canada policy rate.
▸Revolving credit: Unlike a mortgage, you can borrow, repay, and re-borrow up to your limit without re-applying - as long as the account is open.
▸Interest-only minimum: Many HELOCs only require you to pay interest each month during the draw period. Paying only interest will not reduce principal.
FCAC - HELOC rules in Canada ↗
🧪Stress test (OSFI B-20)
▸Federally regulated lenders must qualify you at max(5.25%, contract rate + 2%) - the OSFI B-20 stress test.
▸GDS ≤ 39%: Gross Debt Service ratio - housing costs ÷ gross monthly income.
▸TDS ≤ 44%: Total Debt Service ratio - all debt payments ÷ gross monthly income.
⚠ Stress test may reduce your limit
GDS ratio46.6%
TDS ratio55.3%
GDS limit39%
TDS limit44%
OSFI B-20 guidelines ↗