Put your home's equity to work
Refinancing lets you borrow against the value you've built for renovations, debt payoff, investing or breathing room. Mitch runs the numbers, including any penalty, so you know if it's worth it before you commit.
What happens next.
Hover a step. Every file is different, but this is the path.
Run the numbers
We look at your current balance, home value, penalty and goals to see if refinancing makes sense now or at renewal.
Compare lenders
Mitch shops 30+ lenders, including your current one, for the right structure and terms.
Appraisal and approval
The lender confirms your home's value and your income. We handle the conditions and keep you updated.
Fund and pay out
Your lawyer pays off the old mortgage and any debts you're consolidating, then sends you the rest.
Is this you?
- Homeowners planning a renovation
- Anyone carrying high-interest debt
- Investors pulling equity for a down payment
- Homeowners adding or removing a co-borrower
- Anyone whose current payment is stretching them too thin
How we can structure it.
Equity take-out
Borrow up to 80% of your home's value, minus what you owe, and use the cash for whatever you need.
Rate and term change
Switch from variable to fixed or the other way, or change your term length, when your current setup no longer fits.
Blend and extend
Some lenders let you blend your current rate with a new one and extend the term, which can avoid a full penalty.
HELOC setup
Instead of a lump sum, set up a line of credit secured by your home and draw only what you need.
Refinance calculator
Compare your payment today with a refinance, including cash out and any penalty.
- Payment today
- Change per month
- New mortgage balance
- Max equity available (80%)
- 3 months' interest, rough penalty guide
Estimate only, using Canadian semi-annual compounding. Example rates are for math, not an offer. Your actual rate and APR depend on your approval.
What you'll need
- Government-issued photo ID
- Current mortgage statement
- Property tax bill
- Recent pay stubs and a job letter, or two years of NOAs if self-employed
- Statements for any debts you want to pay off
- Home insurance details
Don't have it all yet? Start anyway. We'll tell you exactly what's missing.
Worth knowing first
- Breaking a mortgage mid-term usually means a prepayment penalty. On fixed mortgages it can be large, so we'll get the exact figure first.
- Refinancing usually needs an appraisal and full income approval, including the stress test.
- Stretching your amortization lowers the payment but increases the total interest you'll pay.
- Legal and appraisal costs apply on most refinances. We'll include them in the comparison.
Good questions.
How much can I borrow?
Up to 80% of your home's appraised value, minus your current mortgage balance. Your income also needs to support the new payment.
Should I wait until renewal?
Often, yes, because there's no prepayment penalty at maturity. If the savings outweigh the penalty now, refinancing early can still make sense. We'll do the math.
Can I refinance with my current lender?
Yes, and sometimes that's the right call. Mitch compares their offer with other lenders so you can choose with real numbers.
How long does a refinance take?
Usually a few weeks from application to funding, depending on the appraisal, lender and lawyer. Starting early gives you room.
Learn before you call.
RatesBank of Canada October 28 decision: hike or hold?
The Bank of Canada decides on October 28. Here's what a hike or a hold could mean for your variable payment, HELOC, fixed rate and renewal.
Mitch Conquer · October 22, 2026 · 5 min read
RenewalsMortgage renewal in 2026: your step-by-step plan
Signed your mortgage in 2020 or 2021? Here's a simple 120-day renewal plan, from rate holds to switching lenders to handling a bigger payment.
Mitch Conquer · October 22, 2026 · 5 min read
DebtDebt consolidation mortgage in 2026: tame payments without new debt
Rolling high-interest debt into your mortgage can cut monthly payments a lot. Here's the math, the trade-offs, and the plan to keep it from coming back.
Mitch Conquer · October 22, 2026 · 5 min readSee your options in 60 seconds.
No credit check. No obligation. Then book a free call with Mitch.
You might also need
Debt Consolidation
Roll high-interest cards and loans into one lower monthly payment.
Renewals & Switches
Don't just sign your bank's renewal letter. Compare 30+ lenders before you commit.
HELOC
A line of credit secured by your home. Borrow, repay and borrow again.
Buying a Home
Get pre-approved, know your real budget, and shop with a rate hold in your pocket.