How It Works

• No monthly payments or interest. The term runs up to 10 years, and the homeowner can exit at any time by selling or completing a Homeowner Buyout of HEQ's share, with no prepayment penalty.
• At exit, the homeowner repays the Initial Payment plus or minus HEQ's share of the change in the home's value. The Starting Agreed Value is the Appraised Home Value minus a 5% Risk Adjustment to account for appraisal uncertainties. The Ending Agreed Value is the sale price, or a new appraisal if the homeowner completes a Homeowner Buyout.
• Gains are shared at 4x the Investment Percentage. Losses are shared at 1x that percentage.
• If the homeowner completes a Homeowner Buyout, or sells within the first 3 years, the Ending Agreed Value cannot be lower than the Appraised Home Value.
• To qualify, the homeowner needs at least 30% equity in their home, and their existing first mortgage plus the Initial Payment cannot exceed 75% of the Appraised Home Value. The Initial Payment ranges from $50,000 to $500,000, and from 5% to 17.5% of the Appraised Home Value.
• The HESA is currently available only to homeowners in the Greater Toronto Area who own and occupy a single-family home, semi-detached home, or townhome. Condos are not yet available.
• This calculator does not account for renovations or maintenance. Value added by permitted renovations over $25,000 is excluded, and value lost to poor upkeep is added back at exit. In both instances, values are determined by an independent appraisal or inspection.

Illustration only, not an offer or commitment. Figures are estimates based on the assumptions shown, and home values can rise or fall. Actual terms, fees and eligibility are set during underwriting and disclosed in writing before signing. "Homeowner Keeps" is before paying off any mortgage and selling costs.