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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.

Why refinance your mortgage?

Renovate or cover unexpected expenses

Get a new kitchen, build an extension, or just cover unexpected repairs (that leaky roof isn’t going to fix itself).

Turn your big plans into reality

Buy another property, invest, or pay for whatever matters most to you.

Choose the mortgage that’s right for you

Get a conventional mortgage or a Homeowner ReadiLine® (a mortgage with a line of credit).

How to refinance your mortgage

step one

Decide what you want to do

Pay for the things you need like renovating your home, investments or whatever matters most to you.

step two

Talk to us about your options

Choose from a traditional mortgage, a line of credit, or combine them with a Homeowner ReadiLine®.

step three

Let us take care of the rest

We’ll help you determine how much you can borrow and how much you need.

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

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)

LEARN MORE ABOUT HOMEOWNER READILINE.

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.

    1. To calculate your equity:Find out how much your home is worth in the current market (not how much you originally paid)
    2. Find your mortgage balance (how much you still owe)
    3. 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.

Helpful mortgage refinancing resources

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How to pay off your mortgage faster

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Get in touch to learn more or get started

  • Visit us

    Book an appointment at your nearest branch to chat about your mortgage options.

  • Talk to an expert

    Schedule a time to talk about your mortgage refinancing options.

  • Call us today

    Get expert insight from one of our Home Advisors.