HB Mortgage Centre

Home Equity Loan Calculator

Estimate a lump-sum home equity loan and its fixed payment. This is an estimate to help you plan, not an offer, approval, or eligibility decision.

Since December 2021, HB Mortgage Centre has funded over $1 billion in mortgages through more than 50 lenders.

Written by the HB Mortgage Centre team. Reviewed by Hardeep Batoo, Principal Broker (licence M13002408). HB Mortgage Centre is an FSRA-licensed brokerage (#13449). Last updated: June 23, 2026.

See your equity loan optionsCall (647) 542-6100

Estimate your home equity loan

Lenders commonly cap combined borrowing at 80% of home value. Your lender may set a different limit.

Estimated results

Available equity (to LTV cap)

$240,000

Combined LTV

62.50%

Estimated monthly payment

$828

Estimated total interest

$98,662

This is an estimate only. Subject to qualification. Not an offer or approval. The combined LTV cap is a planning assumption; actual limits are set by the lender. Payment uses Canadian semi-annual compounding convention.

Get a no-obligation assessment

Estimate only. Lump sum, not a HELOC. Combined LTV cap is a planning assumption set by you; actual lender limits vary. Not an offer or approval. Subject to qualification. FSRA Brokerage #13449.

How to use it

Enter your home value and mortgage balance, then a rate and term. The estimate shows roughly how much you could borrow as a one-time lump sum and the fixed payment. Remember this is a lump-sum loan, not a revolving line.

Home equity loan vs HELOC

A home equity loan gives you a fixed amount with set payments. A HELOC is a revolving line you draw from as needed. If you want flexibility rather than a lump sum, use the HELOC calculator instead.

What it does not do

This calculator does not approve you, confirm eligibility, or quote a rate. Treat the amount as a planning estimate, not an approval: your limit and rate depend on the lender, your qualification, and a property review.

About the payment formula

Monthly payments are calculated using Canadian mortgage convention (semi-annual compounding). The combined LTV cap is a planning assumption you set; lenders apply their own guidelines.
Effective monthly rate =(1 + annual rate200)1/6 − 1

Common questions about home equity loans

Related calculators and pages

Mortgage approvals, rates, terms, products, fees, and available lender options are subject to lender approval, borrower qualification, property review, market conditions, documentation, title review, and applicable laws. O.A.C. E.&O.E. HB Mortgage Centre is an FSRA-licensed Ontario mortgage brokerage, FSRA Brokerage #13449. Each Mortgage Centre is independently owned and operated. This website provides general information only and does not provide legal, tax, financial planning, estate planning, investment, accounting, or benefits advice. For legal matters, speak with an Ontario lawyer. For tax, estate, benefit, investment, or accounting questions, speak with a qualified advisor before making a decision.

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