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Refinance

Because a home is often your most valuable asset, many homeowners take advantage of the equity in their home to pay off high-interest debt or fund renovation projects. With a refinance you are able to access up to 80% of the equity in your home.

Accessing the equity in your home to pay off higher interest debt can help you save a lot of money in interest. In addition, it will help simplify your payments. Talk to us today to see if this is the right strategy for you.

Some homeowners chose to refinance in order to fund large expenses, such a home improvement projects, vehicle purchase and other investments. One option for refinancing your home is to choose a Home Equity Line of Credit. This can give you easy access to the funds when you require them and the flexibility of paying of the debt when you choose without penalty.


The Process

1. Document Collection - More or less documents may be required depending on the situation.
Documents Required:

Employed Applicants:
  • Pay stubs
  • Employment letter
  • 2 years T4’s
Self-Employed Applicants
  • 2 years T1’s (with statement of business activities)
  • Notice of Assessments
  • Business licenses or articles of incorporation

Required from all applicants:

  • Void cheque – from any account you want the mortgage payments to come from
  • Government issued photo ID
  • Copy of your Current Mortgage Statement and Property Tax Bill

2. Approval
Once approved, we will call you to go over the details, discuss strategy and sign the documents. An appraisal may
be required as well as any additional documents required by the lender.

3. Closing
When all broker documents are signed and finished the lender will send all the documents to your lawyer. The lender
will call you to set up an appointment to sign documents with them and close your new mortgage.


Have more questions? Contact us now.

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