
Mortgage Refinance
Refinancing your mortgage lets you borrow more money using the in your home. You’ll have to pay back more in the future, but also helps you pay for the things that matter to you today.
What you need to refinance
Refinancing requires a bit more paperwork than simply renewing your mortgage, but it’s not as complicated as you might think. As part of the process, we’ll have to check your:
Proof of income (a pay stub and a letter from your employer)
Home appraisal (property valuation)
Credit information
Assets and liabilities

How can refinancing help you?
Renovate your home
Let’s say you’ve been paying your mortgage regularly for a few years now. You love your house, but its getting a bit old. The roof is starting to leak, and your backyard has seen better days.
By refinancing you can access the equity in your home, get a line of credit or a lump-sum loan and use that money for renovations, repairs or whatever means the most to you.
Refinance your home with a mortgage plus a line of credit
Get the best of both a mortgage and a revolving line of credit with a Homeowner ReadiLine®. All you need is a 20% down payment or 20% equity in your current home. As you pay off more of your mortgage, you’ll be able to instantly access the equity in your home to spend on the things that matter to you, like renovations and more.
Get the benefit of both a mortgage and line of credit in one product
Borrow up to 80% of your home’s value
Choose the mortgage terms that work for you (fixed vs variable, payment frequency)
Don't have a mortgage with us?
Talk to an expert about switching your mortgage today

Mortgages Frequently asked questions
As you pay off your mortgage you build equity in your home.
- To calculate your equity:Find out how much your home is worth in the current market (not how much you originally paid)
- Find your mortgage balance (how much you still owe)
- Subtract your mortgage balance from your home’s current value
Refinancing lets you borrow up to 80% of that value minus how much you still owe on your property. For example, if your house is now worth $300,000, you can borrow up to $240,000 which is 80% of your home value.
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