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Flex line mortgage

A winning combination: a great mortgage + a home equity line of credit


Borrow up to 80% of your home's value and pay it back at any time.

You don't need to re-apply to increase your limit in the future. Just breathe easy knowing you have credit if you need it.

As you pay off your mortgage, you can automatically access more credit.

Use it for anything - home renovations, investments, big splurges, or even as an alternative to refinancing.

How it works

1. Start with a mortgage. Choose from a fixed or variable rate. Add a home equity line of credit to create a Meridian Flex Line Mortgage.

2. As you pay down the principal on your mortgage, the equity in your home increases.

3. You can access that equity in the form of credit. The increased credit is made available to you monthly.

4. Use your line of credit for anything you want!


Want to do the math?

Calculate how much you can borrow with a Meridian Flex Line MortgageEstimated home valueMaximum borrowing amount = 80% of your home's value*Outstanding mortgage balanceAvailable funds on line of credit
Year 1: Take 80% of your home's value, then subtract what you owe on your mortgage. This leaves $180,000 available to you on your line of credit, and a mortgage balance of $300,000.$600,000$480,000$300,000$180,000
Year 2: After making $8,720 in mortgage principal payments over the year, your mortgage balance drops to $291,280, and your available credit increases to $188,720.

$291,280$188,720
Year 25: After 25 years, your mortgage is paid off in full, and the full value of your line of credit is available to you.

$0$480,000


*This example is for illustrative purposes only. The credit limit on the Meridian Flex Line Mortgage will vary depending on individual applicant eligibility.

Be mortgage free sooner

We call it 20/20 prepayment. Pay off up to 20% more of your mortgage each year through a combination of prepaying more of your original principal balance and increasing your original mortgage payment.

How to apply online

Step 1

Start by applying for one of our fixed-rate or variable-rate mortgages online.

Explore our fixed-rate mortgages

Explore our variable-rate mortgages

Step 2

When you get to Step 2 of your mortgage application, where we help you work out what your mortgage payments would be, check off the box that asks, Add a Meridian Flex Line Mortgage?

That’s it! Simple. If you decide you don’t want to apply online, you can still get a Meridian Flex Line Mortgage - just talk to one of our Mortgage Specialists.


Can I apply for a Meridian Flex Equity Line Mortgage if I already have a mortgage?

Of course you can! Just get in touch with one of our expert Mortgage Specialists.
They can help get you set up.

Talk to a mortgage specialist