How do you calculate a HELOC?
Input your home appraised value amount and the remaining mortgage amount to the online calculator to get a HELOC amount.
Note: Canada can't exceed 65% of your home's appraised value, but your loan to value ratio (LTV) can be up to 80% if you combine HELOC with a mortgage.
The regular formula is:
Home Value x LTV% - Mortgage Balance = HELOC Amount