You are now leaving our website and entering a third-party website over which we have no control.
Learn about TD Home Equity FlexLine
What is a TD Home Equity FlexLine (HELOC) and how to use it?
A TD Home Equity FlexLine (HELOC) is an effective way to leverage your home's value, offering both flexibility and stability. It features a Revolving Portion for easy access to your available credit1 and has optional Term Portions, which have some similar features to mortgages.
Learn more about our award-winning HELOC.
Benefits of a TD Home Equity FlexLine (HELOC)
How the Revolving Portion Works?
|
The Revolving Portion offers: |
Flexible Payment Options: |
|---|---|
|
Either the minimum required monthly payment of interest only or as much of the balance as you like, without any prepayment charges. |
How the Term Portion Works?
|
The Term Portion3 offers: |
Flexible Payment Options: |
|---|---|
|
Award-winning Flexibility
Named "Best HELOC in Canada 2026" by MoneyGenius9, TD Home Equity FlexLine makes it easy to borrow, plan, and move forward with confidence.
TD Line of Credit Protection
Whether you’re single or have a partner or a family to care for, TD Line of Credit Protection can help reduce the financial burden for you and your loved ones should you experience an unexpected covered event.
TD Line of Credit Protection is an optional coverage that offers Line of Credit Critical Illness and Life Insurance, which could help pay off or reduce your outstanding TD Line of Credit balance should you pass away or suffer a covered critical illness or accidental dismemberment.6
Learn more about TD Line of Credit Protection
Frequently asked questions
A traditional mortgage lets you borrow a set amount to purchase or refinance a home. You repay that amount through regular principal and interest payments. A TD Home Equity FlexLine combines the structure of a traditional mortgage with the flexibility of a line of credit through a Revolving Portion and optional Term Portions.
The Revolving Portion gives you access to available credit up to your credit limit without needing to reapply.¹ A Term Portion works more like a traditional mortgage, with regular principal and interest payments at a fixed or variable interest rate and a set repayment schedule. Compared with a HELOC that only provides revolving credit, a TD Home Equity FlexLine lets you add Term Portions for amounts you want to repay on a set schedule.
You can use a TD Home Equity FlexLine to purchase a home, including your first home, if you have a down payment of 20% or more.² You can also have a TD Mortgage and a TD Home Equity FlexLine at the same time.
Home equity is the difference between your home’s current market value and any outstanding debts or charges secured against it. Your equity may increase as you pay down these amounts or if your home’s market value increases.
With a TD Home Equity FlexLine, you may be able to borrow up to 80% of your home’s current market value if you set up a Term Portion. The amount you can borrow depends on your home’s value, your mortgage balance and any other amounts secured against your home. As part of your application, TD will assess your home’s value to help determine how much you may be able to borrow.
You can use a TD Home Equity FlexLine to help pay for planned or unexpected expenses. This could include buying your first and second home, making home repairs or renovations, paying tuition, purchasing a car, or consolidating debt.
Because a TD Home Equity FlexLine is secured by your home, it often has a lower interest rate than most unsecured borrowing options, such as credit cards. Before borrowing, consider how much you need, the interest you’ll pay and how you plan to repay it.
Your payment depends on whether you borrow through the Revolving Portion or a Term Portion.
The Revolving Portion always has a variable interest rate based on the TD Prime Rate. Your minimum required monthly payment covers interest only and may change if the TD Prime Rate or your outstanding balance changes. You can pay more than the minimum or repay the full balance without prepayment charges.
When you set up a Term Portion, you can choose from available fixed or variable interest rate options. A Term Portion has regular principal and interest payments. If you choose a variable interest rate, changes in interest rates may affect how your payment is applied to principal and interest.
As you pay down a Term Portion, you may free up available credit for future use, up to your credit limit. Once that credit is available in your Revolving Portion, you can access it without needing to reapply.1
Consider how much you need to borrow, what the borrowing will cost and how the payments will fit your budget. A TD Home Equity FlexLine is secured by your home, and interest applies to any amount you borrow.
The Revolving Portion has a variable interest rate, so your interest costs may change with the TD Prime Rate. The minimum required monthly payment covers interest only and does not reduce the amount you borrowed. Paying more than the minimum can help lower your balance and reduce the interest you pay overtime.
Want to know more about TD Home Equity FlexLine? Request a call from a TD Mortgage Specialist.
Once your TD Home Equity FlexLine is set up and ready to use, you can access funds from your available credit1. The amount available depends on your approved credit limit and any amount you’ve already borrowed.
If you’re applying for a new TD Home Equity FlexLine or requesting a credit limit increase, TD may need to assess your home’s value and review supporting documents before the funds become available.