Use our free Home Equity Calculator to find out how much equity you’ve built in your home and how much you may be able to borrow. Enter your home value and mortgage balance to instantly calculate your available equity and maximum loan-to-value (LTV) borrowing power for a HELOC or home equity loan.
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Home Equity Calculator
Home Equity Calculator Canada
Wondering how much equity you have in your home? Our free Home Equity Calculator helps Canadian homeowners instantly estimate equity based on property value, mortgage balance, and loan‑to‑value limits. See your available equity, maximum borrowable amount, and a sample monthly payment to plan for a home equity loan or HELOC.
Free Canadian Home Equity Calculator
Your property details
Many lenders cap total borrowing around 80 percent of your home’s value.
Used only to show a sample monthly payment; it doesn’t change your equity.
Home Equity Breakdown
Your results
Total home value
$0
Current mortgage
$0
Available equity
$0
Max borrowable (at LTV limit)
$0
Sample monthly payment*
$0
*Based on the max borrowable amount, at your example rate and amortization.
Loan‑to‑Value (LTV) meter
Current LTV: 0%
Max LTV: 80%
Borrowing power at different LTVs
Quick view of the maximum you could borrow at common LTV caps.
Unlock your home equity today
See how much you could borrow and connect with top Canadian lenders in minutes.
How to Use the Home Equity Calculator
Step‑by‑step
- Enter your home’s estimated current value and mortgage balance.
- Choose a maximum LTV (loan‑to‑value) cap, commonly 80 percent.
- See your available equity and maximum borrowable amount.
- Optionally adjust example rate and amortization to preview a sample payment.
- Compare LTV scenarios in the sensitivity table and apply when ready.
This tool is for planning purposes only. Confirm details with your lender and review appraisal requirements, closing costs, and eligibility.
Home Equity Basics in Canada
What is home equity
Home equity is the difference between your property’s market value and your mortgage balance. It grows as you pay down principal and as your home value increases.
Ways to access equity
- Home equity loan fixed lump sum
- HELOC revolving line of credit
- Refinance replace your existing mortgage
- Second mortgage add‑on secured to your home
Common uses
- Renovations and value‑add projects
- Debt consolidation at lower rates
- Business funding or education
- Emergency liquidity and cash flow
Check your home equity options
Smarter Loans connects you with trusted lenders across Canada.
Home Equity FAQs Canada
How is home equity calculated
Home equity equals your current property value minus your outstanding mortgage balance.
What is loan‑to‑value LTV
LTV is the ratio of your total mortgage debt to your home’s value. Lenders use LTV caps often up to 80 percent to set maximum borrowing.
How much can I borrow from my home equity
Maximum borrowable is roughly value times LTV cap minus current mortgage. Example: 800k value at 80 percent is 640k minus your mortgage.
Do I need an appraisal
Most lenders require a recent appraisal or automated valuation to confirm property value for LTV calculations.
What’s the difference between a HELOC and a home equity loan
A HELOC is a revolving line with interest‑only options during the draw period. A home equity loan is a fixed lump sum with amortizing payments.
Can I get a second mortgage
Yes, subject to lender criteria and LTV limits. Rates may be higher than first mortgages and fees may apply.
Will accessing equity change my existing mortgage
Refinancing replaces your current mortgage. A HELOC or second mortgage is typically separate and leaves your first mortgage in place.
Are there closing costs
Expect appraisal, legal fees, title insurance, and potential discharge or registration fees. Ask lenders for a full fee list.
What credit score do I need
Requirements vary by lender and product. Stronger credit and lower LTVs usually qualify for better rates and terms.
Can self‑employed borrowers qualify
Yes. Lenders may request additional documentation business financials, NOAs, bank statements or use stated‑income programs.
Are HELOC payments interest‑only
Many HELOCs allow interest‑only during the draw period, then convert to amortizing payments. Terms vary by lender.
Is there a prepayment penalty
HELOCs usually have flexible prepayments. Fixed home equity loans may have prepayment rules or penalties. Review your contract.
How accurate is this calculator
It provides estimates based on your inputs. Actual amounts depend on appraised value, underwriting, income, debt ratios, and lender policies.
Can I use equity for debt consolidation
Yes. Rolling high‑interest debt into a secured loan can lower monthly interest costs, but your home becomes collateral. Borrow responsibly.
What happens if my current LTV is above the cap
You may not be eligible to borrow additional funds until you pay down your mortgage or your home value increases.
