A Protected HELOC® is a special type of reverse mortgage designed specifically for Canadians aged 60 and over. It gives you the freedom to access tax-free cash, make no payments if you choose, and never owe more than your home is worth. It combines the flexibility of a traditional HELOC with the peace of mind of a reverse mortgage—but avoids the downsides of both. The Protected HELOC®: Flexible like a HELOC. Guaranteed like a Reverse Mortgage. Protected for life.

Nope. Not unless you want to.

With a Protected HELOC®, you’re in full control:

• Make full interest payments (like a regular HELOC)

• Make partial payments

• Make no payments at all

You can change your mind month-to-month with no penalties or credit hits.

Absolutely not. You stay on title as the homeowner and you remain in complete control of your property. As long as you maintain the home and pay your property taxes and insurance, you can live in your home for as long as you choose. There is also a No Negative Equity Guarantee—you’ll never owe more than your home is worth.

Yes. The money you receive through a Protected HELOC® is not considered income, so:

• There’s no tax on the money

• It doesn’t affect your OAS or CPP

• You can use it to build your TFSA or support family

It’s your equity, simply unlocked.

Pretty much anything you like:

• Clear credit card or mortgage debt

• Build a tax-free TFSA safety net

• Help adult children or grandchildren

• Renovate your home or improve accessibility

• Cover in-home care or medical costs

• Or just breathe easier knowing you have backup funds

There are no restrictions on how you use your equity.

Not at all. You just need to:

• Be 60 or older

• Own a home in BC or Alberta

• Have at least 45–50% equity in your home

We’ve helped retirees, part-time workers, and even full-time earners find a more flexible path forward.

Not unless you spend it all on wine, yachts, and grandchildren (just kidding—sort of). The Protected HELOC® is designed to preserve as much equity as possible. In most cases, homeowners still leave behind significant estate value, often more than expected—because they didn’t have to deplete their RRSPs, sell investments, or touch principal residence value. Plus, many parents use the Protected HELOC® to help family now, when it matters most.

Pre-approval can happen in as little as 3 minutes online. Full funding usually takes 2 to 3 weeks, depending on your location and whether an appraisal is required. No pressure, no rush. We move at your pace.

Great question. Here’s the short version:

Payments Required

Regular HELOC = Yes

Protected HELOC = No

Credit Score Affected

Regular HELOC = Yes

Protected HELOC = No

Can Pause Payments?

Regular HELOC = No

Protected HELOC = Yes

Retiree Friendly

Regular HELOC = Rarely

Protected HELOC = Built for it

Can be Called or Limit Reduced for any Reason?

Regular HELOC = Yes

Protected HELOC = No