HELOC rates

HELOC pricing is tied to prime and lender-specific adjustments. Compare rates and understand borrowing limits.

Direct answer

What should you know about heloc rates?

A HELOC rate is usually variable and quoted as the lender's prime rate plus an adjustment. Interest is charged only on the amount drawn, but interest-only minimum payments can leave the balance unchanged. Compare the approved limit, readvanceable structure, registration, fees, repayment plan, and refinance alternative before opening the line.

Pricing: Usually lender prime plus an adjustment
Best fit: Staged or revolving access to home equity
Main risk: Variable interest and a balance that never amortizes

Canadian mortgage rate decision centre

One headline rate cannot describe seven different mortgage decisions.

Start with the real transaction, then move between pricing, calculators, product rules, and broker guidance without losing the assumptions that make the comparison valid.

Rate path 01

Start with the file

Which rate table matches the mortgage you actually need?

Set the transaction, occupancy, down payment or equity, amortization, term, and rate type before comparing lenders or headline pricing.

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Rates overview Model the payment How pricing works

Rate path 02

Term and rate type

Do you need payment certainty, flexibility, or a shorter decision window?

Compare fixed and variable behaviour, likely holding period, payment shock, penalty risk, and the actual rate spread for the same borrower scenario.

Compare fixed and variable pricing

Fixed rates Variable rates Stress-test both

Rate path 03

Down payment and insurance

Is the pricing insured, insurable, or uninsured?

Match the rate to loan-to-value, purchase price, amortization, occupancy, and transaction rules; an insured headline is not a universal quote.

Review insured pricing

Uninsured rates Calculate the premium Understand eligibility

Rate path 04

Mortgage maturity

Should you stay, switch lenders, or restructure at renewal?

Separate a simple renewal from a lender switch or refinance, then compare rate, term, features, qualification, transfer costs, and future flexibility.

Compare renewal rates

Plan the renewal Compare the offers

Rate path 05

Change the mortgage

Does the refinance benefit exceed every cost of changing the loan?

Price the new mortgage against the penalty, legal and appraisal costs, equity use, payment change, term risk, and a realistic break-even date.

Compare refinance rates

Build the refinance plan Find the break-even Estimate the penalty

Rate path 06

Revolving equity

In focus

Is a HELOC better than amortizing the new borrowing?

Compare prime-based pricing, approved limit, repayment discipline, readvanceable structure, registration, fees, and the refinance alternative.

Compare HELOC rates

Understand HELOCs Model equity access

Rate path 07

Investment property

Does the rental qualify and cash-flow under the same lender assumptions?

Compare rental-income treatment, expenses, down payment, property type, amortization, portfolio policy, rate, and exit flexibility as one investment decision.

Compare rental mortgage rates

Plan the financing Test qualification Review DSCR

Live rate snapshot

Top matches for this scenario

Showing the first 0 cards from 0 matching rates for HELOC · 5-year heloc · $999,999.

HELOC5-year heloc$999,999

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Highlights

Prime-based HELOC pricing with lender notes.

Useful for renovations and readvanceable strategies.

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Source file

Reviewed rate context

This page is maintained by Pragmatic Mortgage Lending for Canadian borrowers comparing rate categories, lender fit, and product trade-offs. Rate tables can change without notice, so final advice still depends on the live lender file and approval conditions.

Reviewed by the Pragmatic Mortgage Lending broker team. Updated July 16, 2026.

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Frequently asked questions

Is a HELOC rate different from a variable mortgage?

Yes. HELOCs are revolving credit lines and often have different pricing and repayment rules.

How much can I borrow on a HELOC?

It depends on your equity, lender policy, and property type.