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. Whether it makes sense depends on your current mortgage terms and the full cost of switching — lender charges such as prepayment penalties, plus appraisal, legal and discharge fees — and on how long you would take to repay. Your home secures the mortgage, so borrowing more against it puts more of it at risk.
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. Repaying that debt over a longer amortization can lower your monthly payment but may increase the total interest you pay, and the debt becomes secured by your home.
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 compare the possible costs and benefits with you, including any charges for ending your current mortgage early, so you can decide whether refinancing makes sense.
We compare refinance rates across our lender network.
If you decide to proceed, we handle the paperwork with your new lender.
Refinancing may be worth reviewing when a lower rate is available to you, when you need to access home equity for a significant expense, when you want to consolidate higher-interest debt, or when your financial situation has changed and you need different mortgage terms. Whether it helps depends on your actual lender offer, any prepayment penalty and other costs, and how long you take to repay — a longer amortization can increase the total interest you pay. We'll do a full cost-benefit analysis with you before you decide.
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.
Ask your current lender for a written payout statement and review any lender charges, appraisal, legal, and discharge costs. We'll include the documented costs in a personalized cost-benefit analysis before you proceed.