Home Equity Line of Credit

Most of us want to avoid debt, but sometimes there are good reasons why we need to borrow money. It's a part of everyday life, and that's okay as long as debt doesn't get out of control.

The Tangerine Home Equity Line of Credit may be a good option for you if you've built up at least 35% of equity in your home. It helps you borrow at a low interest rate by using the equity you've built in your home. And, most importantly, we've designed it so that it's easy to pay off because we know you'll want to get back to being debt-free and building your savings as soon as possible.

Features at a glance:

  • A great low rate (Tangerine Prime + 0.65%)
  • Optional Fixed Payback Plan lets you set up regular set payments
  • 24/7 online access
Current interest rate:
Annual interest calculated semi-annually not in advance.

A great low rate: Apply for a Tangerine Home Equity Line of Credit and get one of the lowest rates available on a loan around. Interest is accrued daily on any outstanding balance and is charged on the 21st of each month.

Fixed Payback Plan: With our optional Fixed Payback Plan, you can set up regular fixed payments to help pay off your account faster, and not get tempted by just making minimum payments.

24/7 online access: You can make lump sum payments, set up reoccurring payments, withdraw funds and make changes to your Tangerine Home Equity Line of Credit online 24/7. And if you have a Tangerine no-fee daily Chequing Account, it's easy to move money between it and your Home Equity Line of Credit on our website.

Safe and secure: We take security seriously. Your Tangerine Home Equity Line of Credit comes with our industry-leading Security Guarantee.

1. Apply

You can apply for only a Home Equity Line of Credit or add one to your existing Tangerine Mortgage anytime. One of our Mortgage Specialists will be happy to walk you through it over the phone simply by calling 1-800-568-2190. Or, you can get things started online whenever you like.

2. Getting it finalized

Once your deal is approved, you'll receive an approval letter outlining the documentation needed to finalize your Home Equity Line of Credit. Your Account Representative will work with you to collect the information and answer any questions you may have.

3. Making it official

You'll need to meet with your lawyer (notary in Quebec) to sign the final documents and confirm your identity. Your lawyer will register your Home Equity Line of Credit, so we can make the funds available.

4. You're ready!

You'll receive a welcome letter letting you know that your Home Equity Line of Credit has been set up and is ready to go. You can withdraw from it or make payments online through either a Tangerine Chequing Account or by transferring money through an external account.

Ready to apply?

Applying online is fast and safe. Just click the Apply now button to get started. Or, if you like, you can also apply over the phone by calling us at 1-800-568-2190.

Mortgage and other loan rates are annual rates and are subject to change without notice and are current as of today's date.