Access your home equity, lower your rate, or consolidate debt — we'll find the best refinance option for your situation.
Your home is likely your most valuable asset. Refinancing lets you tap into that value or restructure your mortgage to better fit your current financial goals. With rates constantly changing, the right refinance at the right time can save you tens of thousands of dollars.
If rates have dropped since you got your mortgage, refinancing could significantly reduce your monthly payments and total interest cost.
Use your equity for home renovations, investments, education, or other major expenses. Borrow up to 80% of your home's value.
Roll high-interest credit cards, car loans, and lines of credit into your mortgage at a much lower rate. One payment, less interest.
Switch from variable to fixed (or vice versa), change your amortization, or modify other terms to match your current needs.
In Canada, you can refinance up to 80% of your home's appraised value (Loan-to-Value or LTV). Here's an example:
Home Value: $900,000
Maximum Mortgage (80% LTV): $720,000
Current Mortgage Balance: $450,000
Available Equity: $270,000
Before refinancing, it's important to understand the potential costs:
We'll do a complete cost-benefit analysis to make sure refinancing makes financial sense for you. Sometimes the savings far outweigh the costs — and sometimes they don't. We'll be honest either way.
We review your current mortgage, home value, and financial goals.
We crunch the numbers to ensure refinancing saves you money.
We compare refinance rates across our lender network.
We handle the paperwork. You start saving money.
Refinancing typically makes sense when you can lower your rate by at least 0.5%, when you need to access home equity for a significant expense, when you want to consolidate high-interest debt (credit cards at 19%+ into a mortgage at 4-5%), or when your financial situation has changed and you need different mortgage terms. We'll do a full cost-benefit analysis to confirm.
You can refinance up to 80% of your home's current appraised value. Your accessible equity is the difference between 80% of your home's value and your current mortgage balance. For example, if your home is worth $800,000 and you owe $400,000, you could access up to $240,000 in equity.
For variable-rate mortgages, the penalty is typically 3 months' interest. For fixed-rate mortgages, it's the greater of 3 months' interest or the Interest Rate Differential (IRD). IRD penalties can be significant — sometimes $10,000-$30,000+ depending on your balance and rate difference. We'll calculate your exact penalty before proceeding.