Homebase Mortgages

Serving Toronto, the GTA & All of Ontario

Ontario's Best Rates on Home Equity Lines of Credit

Ontario’s best rates. Apply today and receive your funds in less than one week. 

Ontario's First Choice in HELOC's

Whether you need $5,000 or $500,000, we offer Ontario’s best rates! Get approved today!

A HELOC lets you use the value of your home as collateral to give you a line of credit with a low interest rate. Apply just once, and you may be able to access up to 80% of the value of your home. It’s always available when you need it. We offer Home Equity Lines of Credit (HELOC) in Toronto and all of Ontario.

Whether you are looking for funds for a home renovation, to pay to education or for any other reason, we can help! As a matter of fact, new clients applying can also be approved within 24hrs and receive funding within days.




If you own your home, you're approved!


Approvals in 24 hours or less

Fill out our fast and easy no-obligation application form to get started and see how much you qualify for.


No credit. No problem.

We don’t care about your credit score or income. If you have equity in your home, you’re approved! Simple as that.


Receive your funds fast!

We know you’re in a hurry! Once you are approved, our agents will work with you to get your funds to you within a week.


Helping Ontario homeowners get more out of their homes since 2002.

Life is full of obstacles, challenges and opportunities. Let our home equity loan experts guide you to get the most out of the hard earned equity you’ve built in your home. We’re here to help. 

Frequently Asked HELOC Questions

A HELOC allows a homeowner to access home equity by borrowing against it. Upon HELOC application, the lender will set a borrowing limit (related to the value of the home equity) from which the homeowner can borrow as little or as much as needed just like a credit card with a set limit as well. Just like with a business line of credit or a credit card, you only pay interest on the money you withdraw. You can also keep borrowing although you still owe money as long as you haven’t reached the credit limit yet.

A HELOC is different from a home equity loan because the lender gives the borrowed amount in a lump sum for the latter. You will also be required to pay a predetermined sum on a monthly basis with a home equity loan until the whole loan is paid off. Simply put, a HELOC is much friendlier on your wallet and more flexible for your needs.

A HELOC requires that you have enough equity in your home. Lenders would often require that you maintain 10-20% equity in your financed home even after taking a HELOC. Other requirements include a steady employment, a good credit score, and having proof of income. Note that some lenders may be more lenient than others.

If you’re going to have multiple significant expenses over the course of the next few years, then getting a HELOC makes more sense than getting a standard home equity loan. Having multiple significant expenses mean that you’ll be facing a revolving bill, so it only makes sense that you get a loan that affords you a revolving line of credit. An example of this is paying for college tuition. You get a HELOC to pay tuition at the start of the semester, pay little by little for the next few months, and borrow again from the amount you paid to fund the next semester.

Subtract your existing mortgage debt to current market value of the home. Once you have these pieces of information, you can apply for a Home Equity Loan with Homebase Mortgages and be approved within days.

It can take as little as 24 hours at Homebase Mortgages. Fast approval means that you can access the money in your bank in just a few short days.

There are many ways to apply for a Home Equity Line of Credit with Homebase Mortgages! You can fill up the application form to apply online, call us during business hours, or contact us on Facebook and Twitter. Our mortgage professionals will get back to you as soon as possible and will be available to answer your questions during business hours.

A home equity line of credit is not the same as a second mortgage. The easiest way to explain their difference is that a second mortgage is given as a lump sum and is paid just like a typical mortgage. On the other hand, a HELOC operates more like a credit card because it is a revolving line of credit that can be used and reused until the set time and value limit is reached. Paying a HELOC is usually interest-only for predetermined time.

With a HELOC, the borrower is approved for a certain credit limit that the borrower can borrow all at once, or little by little if needed be. The credit limit is based on several factors including the value of the home equity that the homeowner had built, the ability to pay, credit score, financial history, outstanding debts, and other financial obligations.

HELOCs typically come with a fixed period of borrowing followed by a period of repayment as well as possible renewal. Note that some plans will require a full payment before allowing a renewal while some will allow to renew as soon as the borrowing period is over. This varies from one lender to another.

If you’re looking for ways to tap your home equity, then getting a HELOC is one of the options that could be right for you – but at a cost. A HELOC is still a type of loan and loans always come with a set of risks along with potential benefits. It is up to you to research these factors and determine if the benefits outweighs the risks. Remember, failure to pay your HELOC can mean the loss of your home as this type of home loan uses your home as collateral.

Why Choose Homebase?

Homebase Mortgages has been helping homeowners achieve their financial goals for over 20 years.
Serving Toronto, the GTA and all of Ontario.

Homeowners approved within 24 hrs

If you own your home, you're approved. We lend based on your homes equity.

Large Canadian public funding network

Whether you need $5,000 or $500,000, we have you covered.

Cut monthly payments in half

Lower your monthly debt payments by up to 50%.

Bad credit. No credit. No problem.

All you need is your home. Credit scores don't matter here!

Most competitive rates in the market

We offer the lowest rates possible in our industry.

We can help when traditional banks won't

Unlike traditional banks, our approvals are solely based on your homes equity.

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What our clients have to say

I had a very bad experience with another company and was lucky enough to find Homebase in time, before going through with a high interest loan. Good people here.
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Danny and Rajal are such a pleasure to work with! They are experienced and extremely knowledgeable. Highly recommended!
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Honest, knowledgable and actually caring! If you're looking for a second mortgage in Toronto, go with them. Great job!
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