Refinancing means reworking the mortgage already in place, and sometimes using part of the value built up in your home: renovations, debt consolidation, another project.
It isn’t the right move for everyone. Your remaining term, possible penalties and your goal all change the answer, so the numbers have to be run case by case.
Refinancing is not the right move for everyone. Each case gets calculated: current term, possible penalties, the goal behind it.
Have my situation reviewedPut part of the equity you have built toward eligible renovation work.
Check whether folding higher-interest debts into the mortgage holds up in your case.
Look at financing options for another important project in your life.
See whether available equity could be part of a future real-estate project.
Review how your current loan is structured and what lenders can offer.
None of these paths is a win by default: it depends on your term, your property and the lender's criteria. We run the numbers with you before any decision.
Equity is, roughly, the difference between what your property is worth today and the balance you still owe.
Lenders only make part of it available, and that limit changes from one institution to the next.
Income, credit file, the property itself, the term still running: only a full review of the file shows what is really possible — not a quick calculation.
Before going further, have the numbers confirmed with a mortgage broker on the team.
Equity The share already paid down, plus the value the property has gained.
Mortgage balance What is still owed to the lender.
Illustrative diagram: the proportions do not represent any actual file.
We start from your actual situation, not a generic scenario. You decide at the end, once the numbers are in front of you.
Our services are free*. * Residential mortgages.
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A call or a meeting to understand your property, your current term and what you are trying to solve.
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Income, mortgage statement, municipal taxes. We tell you exactly what to send, with no back and forth.
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We compare the conditions, not just the rate: possible penalty, credit line, repayment flexibility.
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If the option suits you, we follow the file through to signing at the notary. If not, we stop there.
Timelines vary by lender and by file. We give you a realistic schedule from the start.
Our brokers film answers to the questions homeowners ask most before a renewal or a refinance.
In the meantime, ask a broker directly: it is usually faster than a video, and the answer accounts for your own situation.
A calculator gives you a ballpark, not an answer. What a lender approves depends on your income, your credit file, the property's value and the term you're in. A broker then confirms what actually holds up.
Change the amount, the rate and the amortization to see the effect on the payment. The calculation excludes municipal taxes, insurance and any costs tied to a refinance.
Your renewal file is built, compared and negotiated by people who do this every day.
Équipe Premium Multi-Prêts
Our mission is to find the best mortgage conditions for you. In a moving market, we analyze your needs well beyond the rate and our advice is tailored to your situation. In just one appointment, we shop for you with more than 20 lenders: you have access not only to financial institutions with storefronts but also to several other lenders you wouldn't otherwise have access to. Our services are free* and we work in your best interest: our priority is you. * Residential mortgages.
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Short answers live here. Every file is different, so a broker reviews your situation before any decision.
No. It depends on the time left in your term, the penalties that could apply and what you are trying to accomplish. The only way to know is to run the numbers with a broker: sometimes refinancing helps, sometimes waiting for renewal makes more sense.
Depending on the file, there may be a property appraisal, notary fees and a penalty if you break your term. Amounts vary by lender and by situation, so we put real figures in front of you and the notary confirms their share.
A pre-approval is a preliminary assessment of your borrowing capacity. It gives you a maximum amount you can borrow and a rate held for a set period, usually 90 to 120 days.
A fixed rate stays the same for the whole term, which keeps payments stable. A variable rate moves with the Bank of Canada's policy rate: it can work out cheaper, but it carries more risk.
In Canada, the minimum down payment is 5% on properties under $500,000, 10% on the portion between $500,000 and $1M, and 20% on properties over $1M. We can help you look at your options.
Question not listed? A broker on the team answers it directly, at no cost for residential mortgages.
Ask my questionOne appointment is enough to know whether refinancing holds up in your case. We go through the numbers with you, no pressure.
* Residential mortgages. Every file is assessed based on your income, your credit and your property.
Tell us about your situation in a few fields. A broker gets back to you with the options that actually apply to your file — including when waiting is the better move.
Your information is used only to prepare your analysis.
