Refinance with
confidence

Want a mortgage that gives you more options? Refinancing might be the answer. Refinancing your mortgage means going back to the negotiation table and replacing your old mortgage with a new one (that gives you more!). In other words, you borrow against the equity in your home. You can do this at any point during your mortgage term, but there will be different penalties, depending on your timing. Tell us what you're thinking and we can help you decide if refinancing is the right move for you.

Refinancing can help you make your mortgage work harder for your goals, whether it’s paying off high-interest debt, investing in stocks or an RRSP, purchasing an investment property, renovating your home, or even helping a family member with a down payment. It can also be a smart way to take advantage of lower rates, though we’ll make sure the numbers work in your favor after factoring in any fees or penalties. At Spin, our brokers work with you to plan a refinancing strategy tailored to your specific goals and situation, guiding you through the options, doing the calculations, and helping you choose the path that makes the most sense for your life and finances.

Wondering how much money you could potentially access? The maximum amount you can refinance for is 80% of your property value, also known as Loan to Value (LTV). To calculate this we need to know the current value of your property. Recent property assessments are a good starting point for guesstimations. But lenders will require more precision and send an independent appraiser to inspect your property and provide an accurate current market value. Lenders will also take into consideration your current income, debt, and credit when deciding how much money they are comfortable loaning to you.

Refinancing is a straightforward process that we explore with clients on a daily basis. Unlike banks that know a little about a lot, we are mortgage experts, specializing in purchasing, renewing and refinancing. As long as you have your paperwork in order and time for the appraiser to do their bit, refinancing can be a seamless experience. It could also be the smartest financial move you’ll ever make. And if it isn't, we’ll tell you not to do it!