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How much equity can you take out?

In Canada, a refinance can usually go up to 80% of your home's value. See roughly how much that leaves after your mortgage, other secured debts and costs.

The lender's appraisal decides the real figure.

A HELOC balance or a second mortgage

Use the penalty estimator for the penalty

Enter your numbers to see the result.

How this tool works

  • Federally regulated lenders can refinance up to 80% of the appraised value (OSFI Guideline B-20). Some credit unions follow their own rules.
  • Everything secured on the home counts against the 80%: the mortgage, any HELOC and any second mortgage.
  • You must qualify for the new, larger payment at the stress-test rate (the greater of your rate + 2% or 5.25%).
  • Breaking a mortgage before its term ends usually costs a prepayment penalty — use the penalty estimator.

Rules checked 2026-10-23. Estimates only, not an offer or advice; a licensed broker confirms the numbers and every mortgage is subject to lender approval. Everything is calculated in your browser. The amounts you type are never sent to us.

Read next: Understand your refinance terms · Refinancing

Questions about the refinance equity tool

Is the 80% based on what I paid or what the home is worth now?

On today's value as the lender's appraiser sees it, not the purchase price. If the appraisal comes in lower than your estimate, the amount available drops.

Can I refinance an insured mortgage?

A refinance is a new, uninsured mortgage, so the 80% limit applies. Ask us whether your current insured mortgage's terms make waiting until renewal the cheaper route.

Is a HELOC better than a refinance?

It depends on how you'll use the money. A lump sum you'll repay over years often suits a refinance; money you'll draw and repay over time often suits a HELOC. The HELOC room tool shows what's available.

More tools: HELOC room · Penalty estimator · Debt consolidation

No cost to talk

Ask for options from actual lenders

A tool can only estimate. Tell us your plans and we'll come back with options from actual lenders — no cost to talk.

You can also call us at (416) 371-2077.

What are you looking to do?
Roughly how large is the mortgage?

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We use these details to call you back about your mortgage, and store them in Canada. If we introduce you to a partner broker, we tell you first and share only what you have given us here. See our privacy policy. Stonefield Mortgage is a trade name of Stonefield Capital Inc., FSRA mortgage brokerage licence #13722. A pre-approval or quote is subject to lender approval.