HomeEquity Bank Launches New HEB Advantage Loan
The financial product allows Canadian homeowners aged 55 to 70 to access up to 59 percent of their property value.
Updated on Oct. 15, 2026 in Banking
Live Poll
Is using your home equity to support your financial goals a good strategy for your retirement?
HomeEquity Bank has introduced the HEB Advantage, a new home equity loan product designed for Canadians between the ages of 55 and 70. This offering provides a lump sum payment while requiring interest-only payments for the first decade.
Why it matters
The product is designed to provide older Canadians with increased flexibility and choice when accessing the equity built up in their primary residences. By combining elements of reverse mortgages and traditional equity loans, it offers a distinct financial tool for retirement planning.
Eligible applicants must be between 55 and 70 years old and own a Canadian home with a minimum appraised value of $250,000. Borrowers can access up to 59 percent of their home equity and must commit to 10 years of monthly interest payments.
The players
HomeEquity Bank
A Canadian financial institution that has operated for 40 years and specializes in home equity solutions for older homeowners.
The details
The HEB Advantage loan allows borrowers to receive funds as a single lump sum, with no monthly payments required after the first 10 years provided all terms are met. Available through the bank's broker network, the product requires both a formal property appraisal and independent legal advice.
Timeline
HomeEquity Bank was founded in 1986.
The HEB Advantage product was announced on October 15, 2026.
The loan product becomes available to applicants at the end of October 2026.
Market Dynamics
This product reflects a structural change in the home equity market by blending features of reverse mortgages and traditional loans. It positions HomeEquity Bank to capture a broader segment of the demographic aged 55 to 70 as they manage long-term retirement assets.
Homeowners in the 55 to 70 age bracket now have a new option to unlock cash from their property without the immediate need for sale. Interested individuals must consult with a broker and arrange for an appraisal and legal review to determine their specific eligibility.
The takeaway
This new loan product offers a structured way for older Canadians to access significant home equity while maintaining home ownership. Potential borrowers should carefully evaluate the 10-year interest payment requirement against their long-term retirement income needs.
Further reading
For more context on the current Canadian financial landscape, see Canada Banking.
More information
For more details on the program, visit the HomeEquity Bank informational website.
Live Poll
Is using your home equity to support your financial goals a good strategy for your retirement?
