Your questions, answered honestly

No. A HESA is not a loan, a mortgage, or any form of debt instrument. You will not have a new monthly obligation, an interest rate, or a creditor. The transaction is structured as an equity investment in your property — HEQ becomes a financial partner in your home's value, not a lender. This distinction matters for your credit profile, your cash flow, and your overall financial picture. However, HEQ registers a security interest on your property to protect the investment. You continue to own your home, live in it, and make all decisions about it.

HEQ invests between 5.0% and 17.5% of your home's current value, depending on your eligibility and the details of your property. The minimum HESA advance is $50,000, and the maximum is $500,000. The easiest way to find out how much you may be eligible to access is to use our calculator. Simply enter a few details about your home to receive an instant estimate.

The amount HEQ invests determines how we share in your home's future change in value. If your home goes up in value, HEQ shares in four times the percentage we invested. If your home goes down in value, HEQ shares only in the same percentage we invested. For example, if HEQ invests 10% of your home's current value, we share in 40% of any increase in value or 10% of any decrease in value.

A HESA with HEQ has a term of up to 10 years, giving you time to use the funds while remaining the owner of your home. However, you can choose to exit your HESA at any time by selling your home or refinancing. At the end of the 10-year term, you will need to either sell your home, refinance to settle the agreement, or in certain circumstances, discuss renewing your HESA with HEQ.

If you sell your home, you will settle your HESA by repaying the original amount HEQ invested, plus or minus HEQ's share of the change in your home's value. If you choose to refinance and buy out HEQ, an independent third-party appraisal will determine your home's current value. In this case, HEQ does not share in any decrease in your home's value because there has been no sale. Your HESA is designed around shared outcomes — when your home's value is realized through a sale, HEQ shares in both the increase and decrease in value alongside you.

You remain the sole owner of your home. A HESA does not make HEQ a co-owner, and you continue to enjoy all the benefits of homeownership, including living in your home, making decisions about it, and maintaining eligibility for applicable principal residence benefits and exemptions.

Yes. You can have a HESA while keeping your existing mortgage. HEQ's investment will sit behind your current mortgage as a second position registration. To qualify, the combined amount of your mortgage balance and HESA advance must be 75% or less of your home's current value.

No. HEQ only shares in the future change in your home's value after entering into a HESA. Any equity you build by paying down your mortgage belongs entirely to you, as it should!

Before entering into a HESA, an independent third-party appraisal is completed to determine your home's current market value. HEQ then applies a Risk Adjustment to establish your Starting Agreed Value. The Risk Adjustment accounts for the uncertainty that can exist in any property valuation and helps create a fair starting point for measuring future changes in your home's value. Starting Agreed Value = Appraised Home Value − Risk Adjustment (5.0%). Example: If your home is appraised at $1,000,000, and a 5.0% Risk Adjustment is applied, your Starting Agreed Value would be $950,000. This Starting Agreed Value is used to determine HEQ's share of any future change in your home's value under the HESA. Your existing equity is protected from the start of the HESA.

HEQ provides HESAs for owner-occupied primary residences, including single-family homes, semi-detached homes, and townhomes. You must live in the property for at least 180 days per year. At this time, HEQ does not offer HESAs for rental properties, vacation homes, cottages, or condominiums.

HEQ primarily works with properties located in the Greater Toronto Area. However, we may consider applications for properties outside the GTA on a case-by-case basis. To be eligible for review, the property must be at least located in Ontario and meet HEQ's other eligibility requirements.

Yes. A HESA can be a good fit for homeowners who have significant equity but may not fit the traditional lending model. This often includes self-employed homeowners with variable or complex income, as well as retirees who have built substantial wealth in their home. Unlike traditional lenders that primarily focus on income and debt payments, HEQ takes a more equity-focused approach by considering your home's value and overall financial situation.

Yes. However, all registered owners of the home will need to sign off on the HESA and spousal consent may be necessary.

A typical HESA process takes approximately 30–45 days from application to receiving your funds. The timeline depends on factors such as appraisal scheduling, legal review, and the complexity of your property's title. The process includes an initial eligibility review, application approval, an independent third-party appraisal, legal review and signing, security registration, and the transfer of funds directly to your bank account. We work to keep the process as simple and efficient as possible while ensuring everything is completed properly.

After receiving your funds, your responsibilities are simple. You will need to:

• Complete a short annual check-in survey so we can keep your information up to date.
• Maintain your home in good condition, including addressing major repairs when needed.
• Let HEQ know about significant changes that may affect your property or agreement.
• Stay current on your mortgage payments, property taxes, and home insurance.
• Continue using your home as your primary residence.

These requirements help protect your home and ensure the HESA continues to work as intended for both you and HEQ.

You are always free to sell your home at any time during your HESA. However, a HESA is designed as a long-term solution, and the benefits of the agreement are best realized over time. The first three years of the agreement are considered the Restriction Period. If you sell your home during this time and the value has gone down, HEQ does not participate in the decrease. Your settlement with HEQ will be based on the starting appraised value of your home, as determined when the agreement began. This period helps ensure the HESA is used as intended — as a long-term partnership for homeowners who plan to remain in their home for several years.

You are responsible for maintaining your home in good condition throughout the HESA. Normal wear and tear is expected, but major issues caused by poor maintenance that reduce your home's value may result in a Maintenance Adjustment. This ensures HEQ does not share in a loss caused by avoidable damage or deferred repairs. Any adjustment is based on independent assessments and repair estimates.

HEQ charges a one-time 3.90% transaction fee based on the amount advanced to you. This fee is deducted when your funds are provided directly to you. There are no ongoing service fees, annual fees, or hidden charges. Like other forms of home financing, you are responsible for third-party costs such as the home appraisal and legal review. HEQ works to keep these costs reasonable so more of the value you access stays with you.

No. When you sell your home, you'll be responsible for those costs, just like you would for any other home sale. However, it should be noted that HEQ does not add any extra costs at the time you sell your home.

The Renovation Adjustment ensures that you keep the value you create through qualifying home improvements. If renovations increase your home's value, HEQ will not share in that added value. For example, if you renovate your kitchen and an independent appraisal determines that the renovation added $100,000 to your home's value, that $100,000 would be deducted when calculating HEQ's share at the time of sale. The adjustment is based on the increase in your home's value, not the amount you spent on the renovation. To qualify, renovations must be properly completed, meet local requirements, and have a total cost of at least $25,000. You will also need to provide documentation, such as before-and-after photos, permits, receipts, and project details. This allows you to improve your home while ensuring you receive the full benefit of the value you create.