A smiling retired couple stand at a kitchen counter, each wearing an apron. The woman is holding a knife and cutting vegetables.

RETIREMENT LINE OF CREDIT

Retire comfortably
in your own home.

Retire comfortably in your own home.

If you’re a homeowner, your home is likely your greatest asset. If you’ve paid off most or all of your mortgage, consider tapping into your home’s market value to support your retirement plans.

Talk to an advisor

Get up to 50% of your home's current market value.

The retirement line of credit¹ allows you to borrow up to 50%² of the value of your principal residence. After your credit limit has been established, use the funds as you see fit. With attractive interest rates, you can cover unexpected expenses, renovate, travel, start a business, consolidate your debt, or just enjoy a comfortable retirement. What you choose is entirely up to you.

The details.

Variable interest rate.

Highly competitive variable interest rate.
The rate fluctuates based on the Laurentian Bank line of credit base rate.³
Interest applies only to the funds used.

View interest rates

Easy access to funds.

Access your funds any time:

by cheque
at an ATM
online through LBCDirect

Simple repayments.

You pay interest monthly with a minimum payment of $10.⁴ You can also choose the following payment options:

Percentage of balance
Fixed payments

The balance can be paid off, in part or in full, at any time without penalty.

To your advantage.

Conversion into a mortgage loan.

Convert the balance on your retirement line of credit, in whole or in part, into a mortgage loan to protect yourself from interest rate increases and make fixed regular payments.¹

Better than a reverse mortgage.

Unlike reverse mortgages, the retirement line of credit offers greater flexibility and is less restrictive, as long as you can repay the minimum monthly interest on the approved limit.

HOME EQUITY LINE OF CREDIT INSURANCE (HELOC)

Financial protection that’s within reach.

Peace of mind comes easier when you have insurance for your retirement line of credit.

More about home equity line of credit insurance

Helpful tips and resources.

Your questions answered.

Let's connect.

Laurentian Bank: Laurentian Bank of Canada.

Some conditions apply, including regarding the eligible property type. Subject to compliance with Laurentian Bank underwriting and qualification criteria. Qualification is based on several factors, including the borrower’s sufficient revenues to cover a reimbursement of capital and interest based on a 25-year amortization at the qualifying rate in effect for a home equity line of credit. The amount of financing granted is subject to credit approval by Laurentian Bank and depends on the financial situation of each individual client.
The total debt secured by the mortgage on the principal residence, including the Retirement Line of Credit portion, must not exceed 50% of the current market value of the principal residence. The balance of the existing financing must not exceed 25% of the current market value of the property to be eligible. The Retirement Line of Credit is financing issued in the form of a home equity line of credit. Evaluation fees apply and may vary depending on the specific circumstances of each refinancing request. You must assume these costs. To find out the exact amount, please contact your advisor. No signature by power of attorney will be accepted. Only the homeowner(s) are authorized to sign mortgage documents. First-rank mortgage only.
Talk to your advisor to find out the current line of credit base rate.
The minimum payment must cover at least the accrued monthly interest. Minimum payment of $10.