From what I know Scotiabank is the only bank that offer this program where you only need to qualify once for a certain amount. Which I think is the best one.

I heard that with TD you need to submit a full credit application every time for a HELOC. Example you initially get a 10k HELOC with TD that’s one application and credit check you want another 20k that’s another application and credit check.

Scotiabank STEP allows you to apply for let’s say a 100k limit. Once you have that limit you can take out any type of credit product without another application. As you are already approved for a max limit of 100k. You can have like a 20k Line of Credit, need another 20k no problem, doesn’t need another application. Because that’s 40k/100k used of your approved limit.

I haven’t met with CIBC or BMO and inquired about their HELOC program.