Extend Financial is a broker-focused, non-bank mortgage lender based in Ontario, Canada. Co-founded in October 2020, the company was built to fill a specific market gap: flexible, revolving access to home equity, at a time when almost all comparable lending was structured as a single, fixed draw. Extend Financial pioneered the private home equity line of credit (HELOC) in Canada.
Borrowers draw and repay through an online portal, with interest calculated daily and charged only on the funds in use. There are no exit penalties, and terms run up to five years, rather than the six-to-twelve-month cycles common among private lenders structured as Mortgage Investment Corporations (MICs). Approvals are same-day, and when a deal is urgent, funding can follow within the same day.
