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- Home
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- Cards, loans and credit
- Lines of credit
- Versatile Line of Credit – An equity line of credit
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Versatile Line of Credit - A home equity line of credit
Your home does the financing!
Buy a car, pay your tuition, contribute to your RRSP, take a trip or carry out any other project.
- Borrow against your home equity at an attractive rate.
- Manage your credit on your own.
- Make daily, weekly or monthly payments.
Get financing without the involvement of a notary if your mortgage was issued in or after 2008, or if a clause allowing additional financing is included in your mortgage deed.
Features you’ll like the most
Attractive, variable interest rate
Variable rate lower than a personal line of credit
Amount available
Up to 65% of the market value of your property
Payment options
Percentage of the monthly balance, fixed or variable amount, or monthly interest only
Quick access to funds
At an ATM, online or by phone at 1-800-CAISSES (1-800-224-7737).
How it works
- Draw on your Versatile Line of Credit at any time to cover major expenses.
- Cash advances taken out against the Versatile Line of Credit can be converted at any time into term loans or separate mortgages (in amounts of $15,000 or more).
Interest rate
- Variable rate lower than a personal line of credit.
- Varies based on the prime rate.
See prime rate - Calculated on the daily balance so you only pay interest on the amount used
Amount available
- Minimum of $25,000.
- Up to 65% of the market value of your property
- Cannot exceed 80% of your property’s current market value if it is mortgaged
Payment options
- Daily, weekly or monthly frequency.
- You can choose to pay:
- a percentage of the monthly balance
- a fixed or variable amount
- monthly interest
- No prepayment penalties. Pay off your line of credit whenever you want, in part or in full, without being charged extra fees.
Access to funds
- At an ATM
- On AccèsD or by phone at 1-800-CAISSES (1-800-224-7737)
- By regular cheque
- At your caisse
- With special cheques linked to your line of credit
Possible uses
- Pay for unexpected expenses or deal with a temporary lack of funds.
- Diversify your mortgage.
- Finance your projects
- Renovate your home
- Manage your loans
How it stacks up against other financing options
With the Versatile Line of Credit
You manage your financing on your own and get charged a much lower rate than with other products, like a credit card, personal line of credit or personal loan.
Without the Versatile Line of Credit
You must apply for additional financing every time you need it, often at a higher rate.
Example of use - New buyer
| Value of the home: | $250,000 |
| Mortgage: | $191,000 |
| Total financing: | $209,000 |
Total monthly cost:
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Example of use - Long-time owner
| Value of the home: | $250,000 |
| Mortgage: | $80,000 |
| Total financing: | $119,000 |
Line of credit available:
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See how it works
Mortgage Payment Calculator - Cet hyperlien s'ouvrira dans une nouvelle fenêtre.
Additional offers
Protect your heirs with Loan Insurance - Versatile Line of Credit
Ensure that your line of credit gets paid off in the event of disability or death with Loan Insurance - Versatile Line of Credit.
Think green
Are you buying a new construction or making green renovations? Get cashback, freebies, great rates and many more advantages with the Green Homes Program.
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