Mortgage Refinance Toronto

Mortgage refinance allows you to receive a loan that amounts to as much as 80% of your home’s appraised value.
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Mortgage Refinance Toronto


According to the Financial Consumer Agency of Canada, you can do mortgage refinance through breaking your current mortgage and getting a second loan that you secure with your home equity, by accessing your home’s equity through a home equity line of credit (HELOC), or by extending or blending your mortgage with your current lender, or through reverse mortgage (for those over the age of 55).


Mortgage Offers
pick the one thats right for you.
  • get
    $ 2,000
    on purchase over
    $500, 000
  • Receive
    $ 1,400
    when you transfer
    your mortgage of over $500,000
  • complimentary
    12 months
    Home service plan
    fint out more

Common reasons people go for mortgage refinance


Lower interest rates: Breaking your current mortgage contract for one with a lower interest rate can save you money over time. We will consider the penalties you will incur for breaking your current mortgage and help you do the math to determine if you will save money at the end of the day. Note you will pay a 3-month interest penalty for a variable rate mortgage and IRD (interest rate differential penalty) for a fixed-rate mortgage. Access to equity in your home: Mortgage refinance allows you to access up to 80% of the value of your home less outstanding mortgages. You can use the extra money for home renovations, investment opportunities, emergencies, education, and other uses. Debt consolidation: Having enough equity in your home combined with paying off high-interest debt through refinance will help improve your credit score. There are refinance options that allow you to combine different outstanding debts such as lines of credit, credit card bills, and car loans. If you are stuck with a variable rate mortgage and you prefer a fixed-rate mortgage or vice versa, or if you want to lower your monthly repayments, mortgage refinance is the best option. We also consider the additional fees that you will incur. Whatever the refinance option you go for, you will incur legal costs since a lawyer is needed to change the financing of the title. Another common fee is bank fees to facilitate the paperwork. We will assist you to avoid or counteract these fees by shopping around for free refinance or low bank fees. Other applicable fees are home appraisal fees, title insurance fees, and title search fees.


Featured Rates
Fixed
  • Lender
  • Rate
  • Term
  • Toronto-Dominion
    1.94%
    5 years
  • Scotiabank
    1.99%
    5 years
  • CMLS
    1.84%
    5 years
  • RFA
    1.64%
    5 years
  • First National Bank
    1.74%
    3 years
  • DUCA
    1.99%
    5 year
  • B2B
    2.64%
    5 years
  • Meridian
    1.6%
    5 years
  • RMG Mortgage
    1.84%
    5 years
  • Manulife Bank
    1.89%
    5 years
Variable
  • Lender
  • Rate
  • Home Trust
    4.49%
    5 years
  • Mcap
    1.95%
    5 years
Other
  • Type
  • Rate
  • Secured line of credit
    2.95%
  • Private mortgages
    5.99%
Questions?
We Are Here to Help

You could go directly to a lender for mortgage refinance, but we advise against this because this means you will not get the best possible rate. We have developed a working relationship with most mortgage lenders in Toronto, which opens doors and allows us to negotiate for the lowest rates. Comparing different mortgage refinance options from lenders can be time and energy-consuming; hiring us gives you unparalleled convenience.
Purchase or Refinance
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What our CLients Say
Customer Testimonials
  • Avatar Boyd Wehner ★★★★★
    I used Nick to renew my mortgage. He found me a better deal than my bank could offer and I intend to use him again the next time I need to renew. Nick did all the work, he made it easy and simple for me. He really knows his stuff!
  • Avatar Nicole B. ★★★★★
    I have been dealing with Masoud for my first mortgage back in 2016 and my second mortgage in 2019. He has always been of great help and easy access. He is the first person I go to with regards to mortgage questions. Keep up the good work guys!!
  • Avatar kit cathe ★★★★★
    Working with Masoud was a great experience. We learned about mortgage options that were new to us as we were first-time buyers. Knowledgeable and helpful with no pressure, we were able to make an informed decision that worked out very well for our needs.
  • Avatar David Smith ★★★★★
    I can't recommend Masoud enough if you need a mortgage, a renewal, or even help getting to that point. He is extremely knowledgeable and resourceful and works incredibly hard for his clients! He’s done our first mortgage in 2014, refinance in 2028 and now our second mortgage this winter.
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