When to Consider a HELOC: Home Equity Lines of Credit Explained

As a homeowner in Canada, the equity you’ve built in your home can be a powerful financial tool. One of the best ways to access that equity is through a Home Equity Line of Credit (HELOC). Whether you’re looking to fund renovations, consolidate debt, or invest in another property, a HELOC offers flexibility and lower interest rates compared to other forms of borrowing. In this guide, we’ll break down what a HELOC is, how it works, and when it makes sense to consider one. If you’re exploring ways to maximize your home’s value, Homewise can help you navigate the process and connect you with the right lender options if available. Contact us today..