A mortgage refinance allows you to renegotiate the terms of your mortgage, and can also allow you to borrow additional money. The are a number of reasons to refinance your mortgage: to shorten the term of your mortgage, change from a variable interest rate mortgage (VRM) to fixed, or use the equity built up in your home to finance renovations or other large purchases.

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Many people will use a 'cash out refinance' to replace their current mortgage with a larger one, which allows them to take some of that loan as a cash lump sum. This can allow you to finance large purchases - such as home renovations or school tuition. It can also help save you money by consolidating your debt into one convenient payment.​

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We can explore how taking advantage of flexible mortgage features and interest rates can allow you to withdraw equity while keeping your payments affordable.​​

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A mortgage refinance may be right for you if you want:

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• To consolidate your debt at a lower rate of interest than most major credit cards and loans

• Help with yours or your children’s education costs, new car, a home renovation and more

• Emergency funds to handle unexpected expenses

• To purchase investments or maximize your RRSP contributions

• A residential property, including rental properties of up to four units.

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