Equity Release Canada: How to Access Your Home’s Value Without Moving

When you own a home in Canada, your house isn’t just a place to live—it’s often your biggest asset. Equity release Canada, the process of turning home equity into cash without selling your house. Also known as reverse mortgage, it’s a tool used by thousands of Canadian homeowners over 55 to fund retirement, pay off debt, or cover medical costs. Unlike selling your home, equity release lets you stay put while accessing the money tied up in your property.

There are three main ways to do this in Canada: reverse mortgage, a loan where the lender pays you based on your home’s value, and you repay it when you move or pass away, home equity loan, a fixed lump sum borrowed against your home’s value with set monthly payments, and HELOC, a revolving line of credit you can draw from as needed, like a credit card backed by your home. Each has different rules, costs, and risks. A reverse mortgage doesn’t require monthly payments but usually comes with higher interest. A HELOC gives you flexibility but requires you to pay interest every month. A home equity loan offers predictability but locks you into a fixed repayment schedule.

Who uses these options? Mostly retirees who own their homes outright or have paid down most of their mortgage. They’re not looking to move—they want to live comfortably in the home they’ve built their life in. But it’s not for everyone. If you plan to leave your home to your kids, or if you’re not sure you can afford the interest over time, these options can become burdensome. Lenders check your age, home value, existing debt, and sometimes your health before approving you. The best deals come from lenders who specialize in Canadian equity release, not just big banks.

What you’ll find below are real, practical guides written for Canadian homeowners. We cover how to compare reverse mortgage lenders, what fees to watch out for, how HELOC rates have changed in 2025, and why some people regret choosing a home equity loan. You’ll also see how these tools fit into broader retirement planning—like how using equity release affects your Canada Pension Plan or Old Age Security benefits. No fluff. No sales pitches. Just what you need to decide if equity release is right for you—and if so, how to do it safely.