Mortgage Refinancing

Canadians will typically refinance to consolidate and payout debts, improve cash flow or to access home equity for investment opportunities and/or renovations. A mortgage refinance can be done on your maturity date or prior depending on the situation. A mortgage refinance may entail staying with your existing lender or switching. Either way, it is important to speak with a mortgage professional to see what your options are and to ensure it is beneficial to your financial situation.

Many home owners may not even realize they are eligible for a mortgage transfer but instead are told to refinance their mortgage which can lead to unnecessary costs and higher interest rate.

Here are just a few mortgage refinance scenarios to consider:

  • Debt consolidation to lower your overall cost of borrowing and improve monthly cash flow.

  • Equity take out for investment opportunities, renovations or other circumstances.

  • Spousal buyouts in the event of a divorce/separation.

  • Having access to a home equity line of credit.

  • Refinance plus improvements mortgage.

  • Switching lenders and breaking your existing mortgage for better cash flow, extending amortization and

  • lowering our interest rate

  • Credit repair including paying out a consumer proposal.