What is the best way to borrow money against your home?

What is the best way to borrow money against your home?


The most popular options for borrowing against your home are:

  1. Home Equity Line of Credit (HELOC) – which gives you access to funds on as needed basis. You only pay interest whenever you use it, on the portion you use
  2. Home Equity Loan – which is given out as a lump sum and repaid back according to a set schedule
  3. Reverse Mortgages – for Canadian homeowners over 55 years old, allows access to cash, while eliminating monthly mortgage payments. Homeowner stays in their home. The loan balance is repaid when the homeowner sells the home or passes away.


For more information about home equity financing, explore lenders or to apply online, please head over to our Home Equity Loans section.

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Vlad Sherbatov

Vlad is the President and Co-Founder of Smarter Loans, Canada's original and largest loan comparison website. He is a passionate entrepreneur and business leader in the Canadian financial sector. He was selected as a 2019 Top 25 Leaders in Lending by the Canadian Lenders Association. Vlad is an author at Smarter Loans, and has been featured in publications like the Toronto Star and National Post, among others.