What is a Mortgage Refinancing?

A refinance involves getting a bigger mortgage than you currently have and using the proceeds to pay off your existing mortgage. Refinancing can be a worthwhile financial move and makes sense in several scenarios:

  • Completing some much-needed home renovations
  • Accessing your home’s equity to invest and achieve your long-term financial goals
  • Consolidating your debt and improving your monthly cashflow (i.e., household budget)
  • Getting a lower interest rate

Before making big decisions, make yourself aware of the fees and penalties of refinancing. These fees may include:

  • Mortgage prepayment penalty (if you break your current mortgage term early)
  • Home appraisal (required by lenders)
  • Legal fees
  • Discharge fee (if you switch lenders)

Refinancing your mortgage can be one of the most cost-effective ways to unlock home equity if you need funds, where you can access up to 80% of the home's appraised value in cash.

However, many options exist when deciding if it's worth refinancing your mortgage. You'll also have to look at other important elements like credit scores, home value, mortgage rate trends, and even how soon you're planning to move.

I not only find you the best rate and terms for your new mortgage (at no extra cost or obligation) but walk you through the costs and benefits of refinancing fit for your specific situation, helping you make an informed and calculated decision.

Wondering if mortgage refinancing is right for you?

Make an appointment

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How much are you looking to borrow?

My Process

Introductory conversation

Introductory conversation

We start with an initial conversation to understand your circumstances and goals. I'll then send you a link to my online application portal. This helps gather basic details and narrow down which documents we’ll need to support your file.

Supporting documents

Supporting documents

After a brief review, a second link will take you to a document upload portal. Here, you'll get a list of what we’re going to need and an option to upload each.

Rates and options

Rates and options

Having taken a deeper dive into your details, we'll have a follow-up call to discuss options and the next steps to give you a clear picture of what to expect. We’ll take some time to run scenarios and address any questions you might have

Approval

Approval

Once we’ve agreed on the best path forward, we’ll typically take a few days to arrange your approval at the terms we’re looking for. We will then review the commitment letter together with you to ensure you’re getting the best possible deal with all the right details.

Lender conditions

Lender conditions

We collaborate with the rest of your team, such as your realtor and lawyer, to streamline the process of getting the bank what they need to line us up for the day of closing.

Closing

Closing

Any last-minute issues require us to be on standby to ensure we meet our deadlines and facilitate any issues that may arise.