FREE INTERACTIVE TOOL
How much of your home can you actually use? Start with a home equity audit.
Most Ontario homeowners guess wrong about their usable equity, in both directions. Enter two numbers and see your real figure update instantly.
Your current equity
$0
That's 0% of your home's value.
Usable equity (80% rule)
$0
Equity above your 20% buffer that you could put to work.
Could refinancing actually pay off?
Add your high-interest debts and estimate the monthly cash flow you'd free up.
Estimated monthly cash flow freed up
$0/mo
Add a debt balance, rate, and your estimated new mortgage rate to see the estimate.
Educational estimate only. This is not an approval, a commitment or a personalised recommendation. Your actual payment, qualification, fees and penalties depend on the lender’s terms and on verified information. Talk to us before you act on these numbers.
Step 2 · Fit Check
Are you a fit to refinance right now?
Tap everything that's true. The more that apply, the more likely a refinance moves the needle for you.
How this tool works
The method behind the home equity audit
This tool estimates how much you could potentially borrow against your home. The word potentially is doing real work in that sentence, and the limitations below explain why.
How it is calculated
max(0, 0.80 × accepted property value − existing secured debt)
Net proceeds = approved borrowing − costs paid from the advance
The 80% figure is the conventional limit for a refinance on an owner-occupied home. It is not a universal rule: some programs and some transaction types work to different limits, and a rental or a second property can be treated differently again.
A worked example
A home accepted at $750,000 with $410,000 owing gives 0.80 × 750,000 = $600,000, less $410,000, so $190,000 of potential additional borrowing before costs. Assuming no other secured debt.
That $190,000 is not cash and it is not savings. It is new debt, with interest, secured against your home.
What this tool cannot tell you
- Whether you can afford it. Borrowing room is a property calculation. Approval is an income, credit and debt service calculation, and the second one is usually the binding constraint.
- What the property is actually worth. An accepted value comes from an appraisal, not from a listing site or a neighbour’s sale price.
- What it will cost. Prepayment charges if you break a term, legal, appraisal, discharge and registration costs all reduce what reaches you.
- Whether the interest is deductible. Deductibility depends on what the borrowed money is used for and on tax rules, not on owning a business or a rental. Ask an accountant.
Educational estimate only, not an approval, a commitment or a personalised recommendation. Reviewed 30 August 2026 by Fusion Mortgage Group, a team of licensed mortgage brokers with BRX Mortgage Inc., Mortgage Brokerage #13463.
Next step
You know the equity. Let us talk about what it can do.
A renovation, a consolidation, an investment, a cushion. Each one has a different structure and a different cost. We will walk you through the trade offs.
Want the full picture? Read our guide to accessing your equity