Home Equity Line of Credit

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Home Equity Line of Credit

Access funds using the equity in your home

Equity is the difference between the current market (appraised) value of your home and the outstanding balance of your mortgage. By tapping into the equity you have built in your home, you may already have the financial resources needed to pursue such personal goals as:

Renovating or remodeling your home
Consolidating high-interest debt

Enjoy the true meaning of home sweet home.

Apply for a Home Equity Line of Credit at 7.20% (HSBC Prime Rate + 0.00%)!^***

Features & Benefits

Flexibility in accessing the funds

Manage your approved funds and use them whenever you need to. You can conveniently access your approved credit line by simply writing a cheque up to your available limit and you only pay interest on the amount you use.
Lower your monthly payments by consolidating higher interest rate debt

Home equity rates can be lower than credit card and personal loan rates and can help you reduce your monthly interest charges while keeping a low monthly payment.
Instant access to cash whenever you need it
Use as much or as little money as you like
Pay interest only on the amount you use
Take advantage of preferential rates with HSBC Premier¹ or HSBC Advance²

Apply for a Home Equity Line of Credit today or contact us

Apply now

Call 1-866-609-4722

Today's best rates

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Apply for a Home Equity Line of Credit

You are at least the age of majority, 18 or 19 years of age depending on your province of residence.
You are a Canadian resident.
You will be asked to provide personal details and gross annual income (pre-tax).
You will be asked to consent to us obtaining your credit report.
You must confirm that you have read and understood the Customer Information Consent.
The mortgaged property for the Home Equity Line of Credit must be in Canada.
If you are applying for a joint loan, the co-applicant must also complete the application. If there is more than one co-applicant, please call us to proceed at 1-866-609-4722.
Home Equity Lines of Credit are subject to standard credit approval.
The HSBC Home Equity Line of Credit is accessed through an HSBC Chequing account. HSBC chequing account service charges may apply.^*
The HSBC Home Equity Line of Credit is secured with a registered collateral mortgage charge against your principal residence.^**
Evaluating the advantages and costs when you take on a home equity line of credit is an important first step.
Carefully consider the impact of these new expenses before you choose to apply for a home equity line of credit.

Apply online

Start your application online for a Home Equity Line of Credit today.

Apply now for Home Equity Line of Credit

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* Applicable service charges can be found in the Personal Service Charges/Statement of Disclosure.

** The available limit will depend on the value of your property and any prior charges or liens. An appraisal fee of $300 per valuation may apply.

*** The interest rate on the HSBC Home Equity Line of Credit (the HSBC HELOC) will change with HSBC Prime. Rates are subject to change without notice. As of July 13, 2023, HSBC Prime Rate is 7.20%. The HSBC HELOC is accessed through a HSBC Chequing account. HSBC Chequing account service charges may apply. Applicable service charges can be found in the Personal Service Charges/Statement of Disclosure. The HSBC HELOC is secured with a registered collateral mortgage against your principal residence. The available limit will depend on the value of your property and any prior charges or liens. An appraisal fee of $300 per valuation may apply. Offer is available to all new HSBC HELOC applications that start between October 3, 2022 to September 3, 2023; subject to credit approval.

¹In order to qualify for HSBC Premier you must have an active HSBC Premier chequing account, and meet at least one of the following eligibility criteria:
• Total Relationship Balance of $100,000 (CAD) or more, or
• Total Mortgage Amount of $500,000 (CAD) or more, or
• Total Monthly Income Deposit of $6,500 (CAD) or more plus confirmation of $100,000 or more in deposits and/or investments in Canada
Some exclusions apply. A monthly fee will be charged if you do not meet at least one of the eligibility criteria above. For full details regarding eligibility and any fees which may apply please refer to the Personal Service Charges / Statement of Disclosure available at any HSBC Bank Canada branch or online at www.hsbc.ca.

²HSBC Advance requires you to have an active HSBC Advance chequing account, and maintain combined personal deposits and investments with HSBC Bank Canada and its subsidiaries of $5,000 or hold personal HSBC Bank Canada residential mortgage with original amount of $150,000 or greater. Some exclusions apply. A monthly fee will be charged if you do not meet at least one of the conditions above.For full details regarding eligibility and any fees which may apply please refer to the Personal Service Charges / Statement of Disclosure available at any HSBC Bank Canada branch or online at www.hsbc.ca.