Home equity

Loan product variety

Our HPP can be used as a variety of loan products, including a revolving line of credit, a term loan, or as a regular mortgage.

Flexible borrowing

Use as much or as little of the available credit as needed. With an HPP, you can borrow, repay, and borrow again without having to reapply for an additional loan.

Increase the value of your home

The funds received through a HPP can be used to cover the costs of major renovations, damage repairs, efficiency upgrades, or other additions that could increase the value of your property.

✔ Right for you if you: 

• Have built up equity in your home. The more equity you have in your home, the more financing you’re eligible to receive.

• Want to increase the value of your home. HPPs are a great way to finance home renovations and upgrades that will ultimately increase the value of your home!

• Prefer flexible lending options. Not only does this plan offer a variety of loan products, but it also allows you to borrow, repay, and borrow again without needing to reapply for another credit line.

 May not be right for you if you:

• Are a first-time home buyer. Since this lending option is decided by your current equity, a HPP is not suitable for first-time home buyers. If your first home needs renovations, consider adding funds to your mortgage with our Purchase Plus Improvements Program.

• Don’t live in the home. Accessing finances through the Home Plus Plan requires that you own your home and that it’s your primary residence.

• Are concerned about accumulating debt. You can use, repay, and access funds again with ease, making it work similarly to a credit card. If you're worried about accumulating excessive debt, opting for a traditional mortgage might be a preferable choice.

To learn more about the options available with a Home Plus Plan, book an appointment with your Financial advisor or a Mobile Mortgage Specialist to learn more.