Borrow from your home equity, only when you need it
Borrow against the equity in your home, as often as you need, and pay interest only on what you use. We look at your home equity first, not just your credit or income.
What is a home equity line of credit?
A home equity line of credit is a revolving credit limit secured against your home. Once it is set up, you take out what you need, when you need it, then pay it back and borrow again, up to your limit.
You pay interest only on the amount you have used, not the full limit. Because it is secured by your home, the rate is often lower than unsecured borrowing. It suits Ontario homeowners whose costs arrive over time, like a renovation done in stages, family medical needs or tuition each fall.
Apply TodayYour credit limit is set from the blue portion, the equity above what you still owe. How large a limit you can get depends on your home value and your lender.
Why homeowners choose a line of credit
When costs arrive in stages, a line of credit lets you borrow in stages too.
Borrow, repay, borrow again
Pay down what you used and the room is there again, without a new application each time you need funds.
Interest only on what you use
Approved for a larger limit but only need part of it right now? You pay interest on the part you use, nothing more.
Approved on your home
We look at the equity in your home first. Self-employed income and past credit bumps do not close the door.
What people put it toward
One limit, many uses. Here is how Ontario homeowners use a home equity line of credit.
Renovate in stages
Pay the contractor as each phase finishes, instead of borrowing the full budget on day one.
Simplify high-rate balances
Move high-rate balances onto a secured line, often at a lower rate, and pay them down on your schedule.
Cover family costs as they come
Tuition each fall, care for a parent or help for a child, paid for when the bill arrives.
Fund a business as it grows
Cover equipment, inventory or a slow season, borrowing only what each month calls for.
How it works
Three simple steps from application to a line you can borrow from.
Apply online
Share a few details about your home and what you need. It takes minutes and does not affect your credit score.
We match your lender
A Lighthouse specialist reviews your equity and shops our full network for the right line of credit and limit.
Borrow when you need it
Once approved, your line is set up, often in as little as a few days. Use it as needs come up.
Line of credit or another option?
A quick look at how a home equity line of credit compares with two other ways to borrow.
| Line of credit | Home equity loan | Credit card | |
|---|---|---|---|
| How you receive funds | Borrow as needed | One lump sum | Spend as needed |
| Interest charged on | Only what you use | The full amount | Your balance |
| Reuse after you repay | Yes | No | Yes |
| Typical rate level | Lower, secured by your home | Lower, secured by your home | Usually much higher |
| Best for | Ongoing or staged costs | A one-time expense | Small, short-term purchases |
How much could you access?
Move the sliders for a quick estimate of the credit limit your equity could support, then apply for your exact number.
What Ontario homeowners say
See how Lighthouse Lending has helped Ontario families use their equity.
"After explaining our situation, Kristen found a way to save us thousands. Positive, professional and kind the whole way. Life changing!"
"Fantastic to deal with and very helpful at times when life can feel stressful over finances. I really appreciated the care they put in."
"Matthew was wonderful to work with. Calm and collected, and handled everything with professionalism and integrity. Highly recommend."
Home equity line of credit questions
Everything you need to know before you apply.
A second mortgage pays you one lump sum that you repay on a set schedule. A home equity line of credit gives you a limit to borrow from as you need it, and you pay interest only on what you have used. If your costs arrive over time, a line of credit usually fits better.
It depends on your home value, how much you still owe and your lender. As a rough guide, banks and typical lenders often allow up to around 80% of your home value across all mortgages combined, and some lenders go higher. We give you a firm number once we review your situation.
No. We look at the equity in your home first. Self-employed homeowners, non-traditional income and past credit bumps are all welcome. That is the difference between a broker and a bank.
Many homeowners receive a conditional answer within 24 hours, with the line set up in as little as a few days, depending on the lender and your situation.
For most mortgage products the lender pays our fee, so our help is free to you. If any fee ever applies, we tell you up front, in writing, before you commit.
Have your equity ready when you need it
Apply in minutes and get a clear answer fast. No pressure, and no impact on your credit score to see what you qualify for.