Key features
- Standalone, 1st position: Up to 65% LTV or $1,000,000 HELOC limit
- Standalone, 2nd position (behind an existing Equitable Bank mortgage): Up to 80% LTV combined with Equitable Bank mortgage (max 65% LTV for HELOC portion) or $1,000,000 HELOC limit
- Available on owner occupied and rental properties
- Offered in conjunction with an Equitable Bank mortgage product on new origination
- 50% GDS/50% TDS
- Revolving credit, qualified at 30 years AM
- Qualified at contract rate + 2%
Key benefits
- Interest-only payments
- No annual fee on your Access Card
- No fee for having a zero balance
- Complimentary initial set of HELOC cheques
- Free online account access
- Use your Equitable Bank Visa* Access Card for purchases anywhere Visa is accepted and for cash advanced from ATMs displaying the Visa and/or Plus logos
LTV guidelines
- Please call your sales representative
- Max LTV for a HELOC in 1st is 65% (HELOC with no mortgage)
- MAX LTV for a COMBO HELOC + mortgage is 80%
- MAX LTV for a HELOC in 2nd behind an Equitable Bank mortgage is 80%
- ALWAYS see matrix for minimum and maximum amounts
- Note we can only go behind an Equitable Bank mortgage and cannot go in 2nd behind another lender
For more information, visit our HELOC page.
Have questions? Contact your sales representative today.
Don’t have a rep? Email sales@eqbank.ca.