Explain what you want to do
You may be planning a renovation, combining debts, or reviewing your payments. Tell me what you hope to change.
MORTGAGE SERVICES
Refinancing your mortgage.
Refinancing means replacing or changing your mortgage, often to borrow more or change how you repay it. I’ll help you compare the costs, possible benefits, and risks before you decide.
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How I can help.
Review what you owe
We’ll discuss your mortgage balance, other debts, and estimated home value. A lender must review your finances before approving new borrowing.
Compare the full cost
We’ll look at fees, any penalty for ending your current mortgage early, and how much interest you could pay over time. A lower payment does not always mean a lower total cost.
What does home equity mean?
Equity is your home’s value minus the loans secured against it. For example, a home worth $800,000 with $500,000 owed against it has $300,000 in equity. That does not mean you can borrow the full $300,000.
Can I borrow more just because I have equity?
No. The lender must approve the amount based on your finances, the property, and its lending rules. Borrowing against your home increases the debt tied to it. If you cannot repay, you could lose your home.
What fees should I ask about?
Ask about a property valuation, legal fees, lender charges, and any penalty for changing your current mortgage. Compare these costs and the total interest, not just the monthly payment.
Read more: FCAC: Borrowing against home equity
Have a mortgage question?
Tell me what you need help with. I’ll explain your options and the next steps.