Loans and Lines of Credit › Home Equity Line of Credit

Home equity line of credit (HELOC)

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Your home can be your most
powerful financial borrowing tool

The TD Home Equity FlexLine gives you access to credit, as it is secured against the equity of your home – and the interest rate is low because you’re using your home as collateral.

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Convenient access

Access your credit through your TD Access Card1, cheques and EasyWeb online banking.

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Homeownership costs

Finance purchases related to home ownership, including home renovations and unexpected home repairs.

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Lower interest rate

With borrowing credit against your home equity – it provides you with a low interest rate.

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Doug and Sue update their home

Doug and Sue have been living in their home for a while, and are very happy with their neighbourhood. They have been debating on whether they would move to expand their living space, or finish their basement. In the end, they decide to stay in their neighbourhood and take on the basement renovation. So they apply for a line of credit secured by their home for the maximum amount they qualify for, $100,000 at TD Prime Rate + 0.50%. By using the total amount towards the basement renovation and paying back $10,000 within the first six months, they had enough credit available for a trip to visit their daughter overseas.

What are my rate options?

Competitive Variable rate on the Revolving Portion

  • Enjoy competitive variable rates based on TD Prime Rate
  • Borrow up to 65% of your home's equity.
  • Make monthly interest-only payments or pay as much as you want without prepayment charges.

Term Portion

  • Choose from a variety of both fixed and variable rate options.
  • Borrow up to 80% of your home’s equity by choosing a Term Portion option at set-up2.
  • Put all or a portion of your outstanding balance from the Revolving Portion into a Term Portion (subject to minimum amounts) and establish regular payments at a fixed or variable interest rate for an open or closed-to-prepayment term, depending on the rate you have chosen.
  • Protect yourself from rate increases with a Term Portion – Fixed Rate, or choose a Term Portion – Variable Rate if you're comfortable with fluctuating interest rates.

Have a personal consultation to discuss your options. Call 1 877 247 2265

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Home equity line of credit FAQ

Learn more about our HELOC products.

Ready to apply?

Call us

Our banking specialists will help you with any questions you might have.
1 866 222 3456

Locate a Branch

By Address, Intersection, City, Postal Code OR by Branch Number

Apply Online

You can conveniently submit an online application.

Apply Online

You’ll need:

  • Social Insurance Number (optional)
  • Current address and previous address (if current address is less than 3 years)
  • Your income (sources and amount)
  • Your monthly mortgage or rent amount
  • Your monthly payments (loans, credit cards, lines of credit)
  • Household costs (utility, property tax, insurance, etc.)

1Available when the TD Home Equity Flexline is programmed on your TD Access Card. Fees may apply for Interac® access and the use of other ATMs.
2Subject to the value of your property and any prior charges or liens. Up to 65% can be taken as revolving credit.

Home equity is the market value of a home, minus any outstanding debt secured by or charges on the property.

Secured loans and lines of credit are secured against your assets (home, investments, etc.), to protect the lender against any failure by you to meet your obligations. Because its secured you may get a lower rate or a higher credit amount.