REFINANCE HAPPY

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 Refinancing is the process of getting a new mortgage, in place of your current one, on a property you own. If you are looking to refinance a property you own, great, you have certainly come to the right place. We’re happy to help! We have helped thousands of clients of clients do exactly this and have the experience to make your time working with us a lot of fun! That’s the goal!

  • Take cash out of your home for large purchases

    Access equity (cash) in your home to make large purchases or cover the occasional expenses that arise as a homeowner, like upgrading your kitchen or replacing your roof. Your home equity has a better interest rate than a personal loan.

  • Lower Your Interest Rate

    Take advantage of low interest rates. Don’t let penalties deter you, just let us crunch the numbers first. Breaking your contract for a lower rate can save you money, depending on the penalty and size of your outstanding mortgage.

  • Consolidate Debt

    Consolidate debt. If you have enough equity, you can pay off high interest debt through a refinance. However, it’s important to discuss with us to ensure penalties and administration costs don’t outweigh your savings.

  • Reduce Monthly Payments

    Sometimes life happens, there are a lot of reasons why refinancing your mortgage makes sense to lower your monthly payments. Maybe your family has gone from two incomes down to one, or maybe you want some cushion to start a new business regardless of the reason if your existing monthly payments are becoming unmanageable, a refinance in order to lengthen your amortization might make good sense.

Methods of Refinancing

01 New Mortgage

Break your existing mortgage contract early and obtain a new one with either the same or a new lender. This allows you to access up to 80% of your home’s value. There is a penalty to break your current mortgage, administration, and legal fees to consider.

02 HELOC

Add a home equity line of credit (HELOC). This gives you discretionary access to your home’s equity (between 65-80% of its appraised value). You’re responsible for monthly interest only payments on the outstanding balance, so this is best suited to disciplined people. There’s no penalty, so it can be a good way to

finance a project without modifying your mortgage.

03 BLEND & EXTEND

Blend and extend your existing mortgage. Your mortgage lender may offer you a ‘blended rate’, which blends your current mortgage rate plus any additional money you borrow at current market rates. Blended rates are usually higher than competitive mortgage rates, so compare the blended rate against the savings if you break your mortgage.

Learn more about refinancing your mortgage here.

Benefits of Working with an Independent Mortgage Professional

If you're looking to refinance your mortgage, working with an independent mortgage professional will save you money and provide you with better options than dealing with a single financial institution.

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Finance Your Home Renovations

If you’re looking to complete some home renovations but don’t quite have enough cash to move forward, consider refinancing your home. Use the equity you have built up to increase the value of your home.

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Reposition Your Debts Through Mortgage Financing

If you’re a homeowner looking to optimize your finances, consider taking advantage of your home’s equity to reposition any existing debts you may have.

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4 Ways to Access your Home Equity

If you’ve been a homeowner for many years, likely your property value has increased significantly. One advantage of homeownership is the opportunity to build equity. Learn about how you can access that equity.

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Learn more about how credit impacts a home purchase

Getting a Mortgage After Bankruptcy

After a bankruptcy or consumer proposal, the key to financial success is getting your finances under control as quickly as possible. If you're looking to refinance your mortgage, these principles apply to you!

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How to Handle Missed Payments

If you’ve missed a payment on your credit card or line of credit and you’re wondering how to handle things and if this will impact your creditworthiness down the road, here’s the plan for you to follow.

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Mortgage information to help you make the best financial decisions

Standard or Collateral Charge Mortgage. What's best for you?

When arranging mortgage financing, your mortgage lender will register your mortgage in one of two ways. Either with a standard charge mortgage or a collateral charge mortgage. Learn more about the differences here.

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Lowering Your Overall Cost of Borrowing

Choosing a mortgage with a low rate is part of reducing your overall borrowing costs, but it’s certainly not the only factor. Learn more about what you should consider when securing mortgage financing.

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Can you Trust Online Mortgage Calculators?

Online mortgage calculators should never be relied on for mortgage qualification purposes. Lenders consider much more than numbers when assessing your suitability for a mortgage.

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Please connect anytime. It would be a pleasure to help you with your mortgage refinance.

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