The borrower must be an individual and cannot be a trust, partnership, or corporation.

• The property used to secure the line must be a one-to-four unit property.
• The property used to secure the line must be permanently attached to real property. Mobile homes do not constitute collateral property.
• The borrower must be a Canadian citizen or a landed immigrant.
• The home equity line must be in first lien position at closing. Any existing liens on the property used to secure the home equity line, other than the first mortgage, must be paid prior to or with the proceeds from the new home equity line of credit.