Equitable Bank’s Alternative Lending program offers diverse mortgage solutions, including a unique Home Equity Line of Credit (HELOC) option. It allows for a HELOC in first position on an interest-only basis, either alone or combined with a mortgage. Existing Equitable Bank mortgage holders can add a second-position HELOC, though it must follow an EQ first mortgage. The program is suitable for self-employed individuals with a minimum of one year in business. Income verification for the self-employed is based on 12 months of bank statements, assessing gross income minus recurring expenses. The program accommodates mortgages in both holding and operating companies. For self-employed applicants not formally registered, proof of business activity is sufficient. It also considers casual income, such as nurses with less than two years in their role, using year-to-date pay and pay stubs to annualize income. The program is also open to those with combined income sources, like a full-time job plus a business-for-self side gig.

Key details

Max Loan to ValueMax Loan to Value (LTV) is the largest loan you can get based on your home's value. For a $500k house, 80% LTV means you can borrow $400k or pay $100k down. 80% of Home Value
Credit ScoreThe minimum credit score required to qualify. If you don't know your score, reach out and we can help. No minimum
Max Amortization 30 years
Mortgage Amount $ 75K - $ 4M

Rates and fees

Fill in property value and mortgage amount to see rates

Disclaimer: This rate table represents the best rates available from this lender. Rates and fees may depend on several factors, such as your Loan to Value, credit history, income, property use, property location, etc. For a precise quote, fill out the form at the bottom of the page for a no-obligation call.

More information

Purchase Refinance Equity Takeout Debt Consolidation Tax Arrears Payout Private Lender Payout Home Renovation Loan
Property Types
Detached Semi-detached Condo Townhouse Duplex Triplex Fourplex Acreage
Credit Challenges Borrow More Low Taxable Income New to Canada Commission Income Self-Employed Income
Prior Bankruptcy Active Consumer Proposal Prior Consumer Proposal Foreign Down Payment Gifted Down Payment Second Home Foreign Income Self Employed < 2 Years

This section lists what the lender either does accept or they may consider on a case-by-case basis depending on the rest of the application. If it’s case-by-case, we try and include a note in the policy details to help give more specific information. But keep in mind alternative (private and ‘b’) mortgages are situation dependent and some of the above items can’t be combined. If you’re unsure or have a question, please fill out the contact form at the bottom of the page or speak with your mortgage professional.

About the Lender

Equitable Bank is a leading Canadian financial institution, well-known for its comprehensive suite of residential and commercial lending services. Founded in 1970 as The Equitable Trust Company, Equitable Bank offers a robust portfolio of alternative mortgage solutions, catering to a diverse range of customer needs. These residential lending services have been a cornerstone of the bank's offerings, helping clients navigate complex real estate scenarios. Equitable Bank's strategic focus on digital channels is embodied in EQ Bank, its direct banking brand launched in 2016, that has served to enhance its customer service capabilities. Notably, Equitable Bank also provides a popular reverse mortgage product, which allows senior homeowners to tap into the equity of their homes without having to sell or move. The bank's head office is located in Toronto, with additional branches in various Canadian cities. Equitable Bank, under its parent company EQB Inc., is listed on the Toronto Stock Exchange.

Request a Quote


The content on this website is for informational purposes only and does not constitute professional advice. Policies, rates, and fees are subject to change without notice at the lender’s discretion. There may be additional costs not mentioned on this page. Cost of financing is depends on the situation, and it is the responsibility of your mortgage professional to disclose that information at the time of application. In the event of a discrepancy between this page and the lender, the lender is assumed to be correct. Before making any financial decisions, please consult with a qualified mortgage professional. By using this website, you accept the above statement and our terms and conditions.