HELOC - Advance Mortgages

4.9 Highly rated by Ontario homeowners

A Home Equity Line of Credit (HELOC) lets you borrow against your home’s value and access funds whenever you need them — similar to a credit card, but with much lower interest rates.

At Advance Mortgages, we help homeowners in Ontario unlock up to 80% of their home’s equity. Your HELOC gives you the flexibility to:

Consolidate high-interest debt
Renovate or upgrade your home
Invest in property or a business
Cover major or unexpected expenses

You pay interest only on what you use — it’s your equity, your terms, and your flexibility.

Get Pre-Approved Talk to an Advisor

Why Choose a HELOC?

Access Funds Whenever You Need Them

A HELOC gives you on-demand access to your home’s equity — borrow only what you need, when you need it, and pay interest on what you use.

Lower Interest, Smarter Borrowing

Enjoy lower rates than credit cards or personal loans. You’re only charged interest on the funds you withdraw, keeping your costs manageable.

Fully Open — No Term or Penalties

HELOCs are fully open, with no fixed term, no expiry, and no penalties to repay early. Borrow when you need it, pay it down anytime — no fixed terms, no penalties.

Flexible Options for Every Project

From renovations to laneway homes, garden suites, or investments, your HELOC adapts to your goals. Access funds quickly without reapplying or breaking a loan.

Interest-Only Payment Flexibility

Make interest-only payments or repay your balance on your schedule. Ideal for managing cash flow while keeping monthly payments low.

HELOC Pre-Approval Calculator

Your home value

Enter your home’s estimated value and hit Next to continue

Remaining Mortgage Balance

Enter your remaining balance and see your eligibility.

Get on board with a team of seasoned professionals who have been helping Ontarians get the best rates for the last 20 years.

Book a Call Get Pre-Approved >

Most Common HELOC Uses in Ontario

Home Improvements or Renovations

Upgrade, remodel, or modernize your home without dipping into savings. A HELOC lets you fund projects like kitchen updates, basement finishes, or energy-efficient upgrades — and can even boost your property’s value.

Debt Consolidation & Credit Repair

Pay off high-interest credit cards or personal loans using your home’s equity. Consolidating debt into one low-interest HELOC can simplify payments and help rebuild your credit faster.

Laneway Homes & Garden Suites

Tap into your home’s equity to build a laneway house or garden suite — perfect for generating rental income, adding family living space, or increasing your property’s overall value.

Future Opportunities & Life Events

Keep a flexible source of funds ready for life’s big moments — whether investing in another property, supporting a business, or managing unexpected expenses. With a HELOC, your equity works for you.

Why Work With Us

Fast Approvals

Streamlined process with approvals often within 24 hours.

Competitive Rates

We compare 300+ lenders to secure your best possible rate.

Flexible Options

Choose from a full range of bank, alternative, and private programs.

Customer-Centric Service

Personalized support from a dedicated advisor — start to finish.

No Hidden Fees

Transparent pricing. No surprises. Ever.

Personalized Solutions

We take time to understand your goals and build the right strategy for you.

HELOC FAQ

A Home Equity Line of Credit (HELOC) lets you borrow against your home’s value, giving you flexible access to funds as needed. It works like a revolving line of credit — borrow, repay, and reuse funds at your convenience.

Once approved, you can access up to 80% of your home’s value, minus your existing mortgage balance. You can withdraw funds at any time and choose to make minimum interest payments or pay off the balance in full.

A HELOC is a revolving credit line — flexible and reusable. A Home Equity Loan provides a single lump-sum amount with fixed monthly payments. Both use your home’s equity as security, but a HELOC offers far more flexibility.

Yes — Advance Mortgages works with 300+ lenders, including banks, credit unions, and private lenders. We help self-employed, low-income, and bruised-credit borrowers access the equity in their homes.

No — HELOCs are fully open, with no penalties, no term, and no expiry. You can repay or reuse your available balance anytime without fees.

Testimonials