Unlock your home's potential.

Get easy access to funds based on the value of your home and only pay interest on what you use. Plus, the Canadian Northern Bank equity line of credit offers more affordable rates than a personal loan.

Choose your mortgage.

Low interest rate.

Get low-cost financing based on the value of your property. The interest rate for the equity line of credit is lower than most other financing solutions, saving you money.

Flexible payment options.

Choose to pay only the interest, a percentage of the balance, or a fixed amount.¹Pay down part of the loan at any time without penalty. Plus, it comes with a higher credit limit than a regular line of credit.

Convenient access to funds

Use the available funds for whatever you want, whenever you need it. With various withdrawal options available, get approved once and withdraw funds as you need, up to $30,000 at one time.

The details.

Minimum amount.

Start with as little as $25,000 for a new equity line of credit or a limit increase to an existing one.

Variable interest rate.

Highly competitive variable interest rate.
The rate fluctuates based on the Canadian Northern Bank line of credit base rate.
Interest applies only to the funds used.

Easy access to funds.

Access your funds any time:

by cheque
at an ATM
online through CNBCDirect

Simple repayments.

Flexible repayment options:

Interest only³
Percentage of balance
Fixed payments²

Helpful tips and resources.

Is an equity line of credit right for me?

This mortgage product may be right for you if:

You want the flexibility to access funds whenever you need them.
you want to pay interest only on the amount you borrow.

Is an equity line of credit not right for me?

This mortgage product might not be suited for you if:

You can’t commit to regular debt repayments.
You’re not comfortable with variable interest rates.