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Refinance vs HELOC vs 2nd Analyzer

You have equity... but how best to access it?

Your options (refinancing, a HELOC, or a second mortgage) look similar on the surface but behave very differently depending on your existing mortgage, how much you need, what you need it for, and how long you plan to carry the debt.

My Refinance vs HELOC vs Second Mortgage Analyzer takes out the guesswork. Enter your property details, existing mortgage, and borrowing goal — and the analyzer models all three equity-access strategies side by side, comparing real upfront costs, monthly payment impact, and total cost over your chosen time horizon.

Built on a powerful mortgage strategy engine, it accounts for semi-annual compounding, OSFI stress test qualification, break penalties, chartered-bank HELOC rules, and much, much more.

Whether you’re consolidating debt, funding a renovation, or accessing equity for any other purpose, you get a ranked recommendation with the reasoning behind it — not just a number, but a starting point for us to have a real conversation.

Disclaimer

The mortgage calculators provided on this website are for general informational and illustrative purposes only. The results generated are based on user-entered information and standardized assumptions regarding interest rates, amortization periods, debt service ratios, stress test requirements, property taxes, and other inputs.

These tools do not constitute financial advice, mortgage advice, a mortgage approval, or a commitment to lend.

Actual mortgage qualification and terms depend on many factors, including but not limited to:

Verification of income and employment
Credit history and credit score
Existing debt obligations
Down payment source and documentation
Property type and location
Applicable federal and provincial regulations
Specific lender underwriting policies and guidelines

Lender policies and regulatory requirements may change without notice and may differ between financial institutions. As a result, the outcomes produced by these calculators may not reflect the final mortgage approval amount, interest rate, product structure, or conditions offered by a lender.

For advice tailored to your individual circumstances, please consult with me.

Mortgage services are provided in accordance with applicable provincial legislation, including the Mortgage Brokerages, Lenders and Administrators Act, 2006 (Ontario) and regulated by the Financial Services Regulatory Authority of Ontario (FSRA) where applicable.