Home equity calculator
See how much equity you’ve built and roughly how much you could borrow against your home by refinancing or with a home equity line of credit.
You could access up to about
–
through a refinance (up to 80% of your home’s value)
Your home’s value
- Owed
- Could borrow
- Equity that stays in the home (20%)
- Your equity
- Possible line of credit limit (65% rule)
- Loan-to-value today
How this estimate works
In Canada, an ordinary refinance lets you borrow up to 80% of your home’s appraised value in total, and a revolving home equity line of credit can be at most 65% of the value (the rest can be a regular mortgage). You still need to qualify, including the stress test, and the value comes from an appraisal. Breaking a mortgage term early to refinance can mean a prepayment penalty.
Estimates are for illustration only and are not a mortgage offer, approval or rate quote. All mortgages are subject to CIBC credit approval. For your real numbers, call Rekha at 780-394-5555.
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Want real numbers, not estimates?
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