One lump sum from your equity, one predictable payment
Turn the equity in your home into a single lump sum, repaid with a set payment you can plan around. We look at your home equity first, not just your credit or income.
What is a home equity loan?
A home equity loan lets you borrow against the equity in your home and receive it as one lump sum. You repay it on a set schedule, with the same payment each month, until the balance is paid off.
Because it is secured by your home, a home equity loan often carries a lower rate than unsecured borrowing. It suits a cost you can name up front: a renovation, tax arrears or several high-rate balances you want to replace with one payment.
Apply TodayA home equity loan borrows from the equity portion, the value above what you still owe. How much you can access depends on your home value and your lender.
Why homeowners choose a home equity loan
When you know the amount you need, a home equity loan keeps the plan simple.
The full amount, up front
Receive the whole sum at once, so the renovation, the tax bill or the payout of high-rate balances is handled in one step.
A payment you can plan around
The same payment each month makes budgeting simple. You know what you pay, and you know when it ends.
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 lump sum, one clear plan. Here is how Ontario homeowners use a home equity loan.
Renovate the home you own
Fund the kitchen, the addition or the repairs you have been putting off, using the equity already in the walls.
Simplify high-rate balances
Replace several high-rate balances with one predictable monthly payment.
Clear tax arrears
Pay off income or property tax arrears in one step, then repay on a set schedule.
Cover a large family expense
Tuition, a wedding or helping the next generation, paid at once with a clear repayment plan.
How it works
Three simple steps from application to funds in your account.
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 home equity loan.
Access your funds
Once approved, your lump sum is arranged and sent, often in as little as a few days.
Home equity loan or another option?
A quick look at how a home equity loan compares with two other ways to use your equity.
| Home equity loan | Line of credit | Refinance | |
|---|---|---|---|
| How you receive funds | One lump sum | Borrow as needed | One lump sum |
| Monthly payment | Set and predictable | Changes with what you use | One new mortgage payment |
| Keeps your current mortgage | Usually yes | Usually yes | No, it replaces it |
| Avoids breaking your mortgage | Yes | Yes | No |
| Good for a one-time expense | Strong fit | Better for ongoing needs | Yes |
How much could you access?
Move the sliders for a quick estimate of the equity a home equity loan could tap, 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 loan questions
Everything you need to know before you apply.
A home equity loan pays you one lump sum, which you repay with a set payment each month. A home equity line of credit gives you a limit to borrow from as needed, and the payment changes with what you use. If you know the amount you need, a loan is often the simpler fit.
It depends on your home value, how much you still owe and your lender. As a rough guide, banks and typical lenders allow up to around 80% of your home value across all mortgages combined, and some lenders go higher. We give you a clear 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 funds arranged 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.
One lump sum, one clear payment
Apply in minutes and get a clear answer fast. No pressure, and no impact on your credit score to see what you qualify for.