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Home Equity Loans in Vancouver, BC

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up Last updated

October 11, 2025

up Written by:

Amy Orr

up Reviewed by:

Jenna West

With Vancouver’s strong real estate market and consistently high property values, many homeowners are choosing to leverage their home equity to access affordable financing. A home equity loan allows you to borrow against the value of your property to fund renovations, consolidate debt, invest, or manage major expenses. Smarter Loans connects Vancouver homeowners with trusted Canadian lenders offering flexible home equity loan and line of credit options, helping you make the most of your home’s value while keeping your financial plans on solid ground.

Compare Lenders

AMOUNT
$50K - $10M
INTEREST RATE
From 4.09%
TERMS
6 - 60 Months
AMOUNT
$20K - $100M
INTEREST RATE
Varies
TERMS
12 - 60 Months
AMOUNT
$500 - $150,000
INTEREST RATE
9.99% - 34.99%
TERMS
9 - 240 months
AMOUNT
$50K - $10M
INTEREST RATE
Varies
TERMS
1 - 10 Years
AMOUNT
$50K - $10M
INTEREST RATE
From 4.00%
TERMS
5 Years
View More Lenders

Frequently Asked Questions About Home Equity Loans in Vancouver


What documents do I need to apply for a home equity loan in Vancouver?

Applying for a home equity loan in Vancouver is easy; all you’ll need is:

  • I.D. showing that you’re at least 19 years old
  • Proof of address
  • Your bank account details
  • Your property’s full details (including information on any existing mortgages on it, and your ownership documents)
  • Proof of income
  • Other financial documents that illustrate all of your assets and debts

With this information a lender can then assess your financial position and whether they are comfortable lending to you.

What credit score do I need for a home equity loan in Vancouver?

Most traditional lenders (like banks and credit unions) have a minimum credit score threshold of 650 for their loans. As Vancouver’s average credit score is 703, most local borrowers already meet this criteria. However, there are plenty of alternatives for those not meeting this requirement; some of the lenders listed above will cater to lower credit score borrowers. You just may have to pay slightly more in interest.

Where can I get a home equity loan in Vancouver?

Home to nearly a million homeowners, Vancouver offers a bustling loan marketplace for its residents. The list in the table above is a good place to start; there are traditional lenders, like banks and credit unions, many online lenders, as well as some alternative lenders for those looking for more bespoke loan terms. With so many options, Vancouverites are sure to find the right lender for their needs.

How long does it take to get a home equity loan in Vancouver?

That depends on which lender you apply to. Most traditional lenders have fairly slow processes, and it can take up to six weeks to process your application and release your loan funds. Some other lenders, like online lenders, can offer shorter turnaround times – sometimes as short as a week.

What fees do I have to pay for a home equity loan in Vancouver?

Every lender charges slightly different fees, so it’s always important to ask before applying for your loan. You may have to take into account:

  • Home appraisal fees
  • Loan origination fees
  • Late payment fees
  • Early repayment fees
  • Closing fees
  • Legal fees

How much can I borrow with a home equity loan in Vancouver?

This depends on the value of your home, and whether you have any other loans secured against it. In theory you can borrow up to 85% of your home’s value. Vancouver’s average property price is just over $1.23 million, so this means the average home has a theoretical borrowing room of $1.046 million. But the average mortgage in Vancouver sits at $595,000 (the highest level in the country), and this must be accounted for, as you can’t borrow against what’s already mortgaged! So for the average property in the city, the borrowing room reduces to ($1.046 million – $595,000) = $451,000.

What are the alternatives to a home equity loan?

If you are one of the 63.7% of Vancouver residents that owns their own home, you should know that a home equity loan is not the only route you have to access cash. You might also consider a home equity line of credit (HELOC), a second mortgage, or a mortgage refinancing. Each option has its own pros and cons, so be sure you understand what will work best for your circumstances.

Expert Review & Editorial Standards

This page was researched, written, and reviewed by financial professionals with expertise in Canadian lending regulations. All information is regularly updated to reflect current rates, terms, and regulatory changes.

Jenna West
Reviewed By

Jenna West

Financial Writer & Content Director

Jenna has covered the Canadian FinTech and consumer lending industry since 2017. She specializes in regulatory updates, consumer protection, and helping Canadians navigate complex financial products.

  • 8+ years analyzing Canadian consumer lending
  • Monitors FCAC and provincial regulatory changes
  • Specializes in personal loans and alternative lending
Amy Orr
Written By

Amy Orr

Financial Content Specialist

Amy is a financial writer with 10+ years covering Canadian, U.S., and U.K. financial markets. She holds a Masters in Finance from the University of Edinburgh Business School and formerly worked in the hedge fund sector.

  • Masters in Finance, University of Edinburgh
  • Former hedge fund professional
  • Published in major financial publications

About Smarter Loans

Canada's independent lending comparison platform since 2016. Trusted by over 2 million Canadians and recognized by the Toronto Star as "the GPS of FinTech Lending." Featured in the National Post and major Canadian publications.

Verified Lenders Only All lenders verified for proper licensing and regulatory compliance
Editorial Independence Content created independently from business relationships
Regular Updates Content monitored and updated for rate changes and new regulations
2M+ Canadians Served Helping Canadians compare loans since 2016

Our Editorial Process

Every page undergoes research, expert writing, fact-checking, and review by our Financial Content Director. We verify all rates, terms, and regulatory information against official sources including FCAC guidelines and provincial lending regulations.

Last Updated: October 11, 2025 | Next Review: Ongoing monitoring

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Awesome G. profile pictureAwesome G.
04:46 26 Feb 25
I’m very honoured to shear my experience with this illustrious platform. To be able to systematically choose from a list optional to one’s profile without doing much leg work is truly rewarding. This platform allowed to expand my options and chose which lenders fit my profile, thank you and continue doing what you do best,, connecting people to available wealth opportunities.
Pat M. profile picturePat M.
03:10 26 Feb 25
Good place to get a loan
Chris “Stufphr” H. profile pictureChris “Stufphr” H.
02:07 26 Feb 25
When you feel in need of a loan do it smart and make it a Smarter Loans.
Dan Bott (. profile pictureDan Bott (.
01:41 26 Feb 25
Very Helpful, was assisted in a timely fashion and was ultimately able to receive assistance; I highly recommend!!!
joel K. profile picturejoel K.
22:59 25 Feb 25
I have recommended this place to many friends I feel that this company goes out of their way to help people that they can and they are very easy to work with
Nate C. profile pictureNate C.
13:22 27 Oct 24
This company is reliable, quick, and just has the best customer service and rates it is a easy process with quick results. Would definitely recommend to anyone that needs the help.
Vincent J. profile pictureVincent J.
07:08 23 Oct 24
Good place for borrowing a bit of money 😁
Kels H. profile pictureKels H.
06:41 23 Oct 24
Personally love this opportunity and app. Super convenient and easy to use and super awesome variety of great loans. Thanks so much guys for making such an awesome site and app and being there for me over the years. :)
Tara H. profile pictureTara H.
16:23 16 Oct 24
From beginning to end, my experience was great! Very professional and personable agents. They only asked questions that were needed for the loan and payments were extremely reasonable. Would recommend to anyone who needs emergency funds.
A S. profile pictureA S.
19:43 11 Oct 24
“ Thank you SO very much! My situation was tricky and you guys made the whole process so effortless. The way you guys handle the whole process so discreetly. That truly speaks to how well your office is run and the caliber of specialists who handled the processing of my entire loan!”

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