Trusted by More than 2,000,000 Canadians since 2016

Home Equity Loans in Vancouver, BC

  • chBorrow up to $1 Million using the equity in your home
  • chRates starting from 4%
  • chGet offers from Top Home Equity Lenders in Canada
up Last updated

June 09, 2025

up Written by:

Amy Orr

up Reviewed by:

Jenna West

Compare Lenders

AMOUNT
$500 - $150,000
INTEREST RATE
9.99% - 34.99%
TERMS
9 - 240 months
AMOUNT
$50K - $10M
INTEREST RATE
From 4.09%
TERMS
6 - 60 Months
AMOUNT
$20K - $100M
INTEREST RATE
Varies
TERMS
12 - 60 Months
AMOUNT
$10K - $10M
INTEREST RATE
Varies (Home Equity Loans)
TERMS
12 Months
AMOUNT
$50K - $10M
INTEREST RATE
Varies
TERMS
1 - 10 Years
AMOUNT
$50K - $10M
INTEREST RATE
From 5.44%
TERMS
5 Years

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.

av
writtenWritten by:

Amy Orr

Amy Orr is a professional writer and editor with over 10 years of experience in the Canadian, U.S. and U.K. financial markets. She has written for numerous publications on topics as diverse as economic literacy, corporate finance, and technical analysis of numerical data. Prior to transitioning to full-time writing, she worked in the hedge fund sector. Her academic background is astrophysics, and she has a Masters in Finance from the University of Edinburgh Business School.

av
writtenReviewed by:

Jenna West

Jenna West is Smarter Loans' in-house financial writer and content director. She has been covering the Canadian FinTech and finance industry since 2017, including financial trends analysis, industry surveys, regulatory updates and changes in Canadian consumer behaviour when it comes to finance.

Awesome 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.
03:10 26 Feb 25
Good place to get a loan
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02:07 26 Feb 25
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01:41 26 Feb 25
Very Helpful, was assisted in a timely fashion and was ultimately able to receive assistance; I highly recommend!!!
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22:59 25 Feb 25
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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.
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07:08 23 Oct 24
Good place for borrowing a bit of money 😁
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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. :)
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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.
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