Refinance
Your mortgage shouldn't cost more than it needs to.
Whether rates have dropped, your renewal is coming up, or you need to access your equity. I will compare your options and find the one that suits your situation.What's your refinancing goal?
Where refinancing tends to pay off
Whether any of these saves you money depends on your balance, remaining term and penalty. I will run the actual numbers on your mortgage.ScenarioWhat to compare
Fixed 5yr → Fixed 5yrYour remaining term against the break penalty. Mid-term breaks only pay off if the rate gap is wide enough to cover it.
Variable → Fixed 5yrThe cost of certainty. Variable penalties are usually three months' interest, which makes this switch cheaper to execute.
Bank renewal → BrokerYour bank's renewal offer against what other lenders will actually give you. There is no penalty to switch at maturity.
Understanding mortgage penalties
Variable Rate
3 Months' InterestThe penalty for breaking a variable-rate mortgage is straightforward: 3 months of interest on your remaining balance.Example: $500K balance at 5.5%Penalty: ~$6,875
Fixed Rate
IRD or 3 Months' InterestBanks use the Interest Rate Differential (IRD), which compares your rate to their current rate for the remaining term. This can be significantly higher.Example: $500K, 2 years left, 1.5% IRDPenalty: ~$15,000
Not sure what your penalty is? I will calculate it for you.
Your home equity is a powerful asset
Over time, your home builds equity through mortgage payments and property appreciation. You can access up to 80% of your home's value through refinancing.Home renovations
Children's education
Debt consolidation
Investment property
Example: Your Home Equity
Home Value$1,200,000
Current Mortgage$520,000
Max Refinance (80% LTV)$960,000
Accessible Equity$440,000
Mortgage renewal? Start early.
1
START SHOPPING120 daysContact meI will review your current mortgage and start comparing rates.2
COMPARE OPTIONS90 daysRate lockI compare offers and lock in a competitive rate from the lenders I work with. Rate holds commonly run 90-120 days.3
FINALIZE30 daysSign & submitComplete the paperwork. I handle everything with the new or existing lender.4
RENEWAL DATE0 daysSeamless switchYour new rate kicks in automatically. No gap, no stress.Refinancing Questions
Find out exactly how much you could saveUse the mortgage calculator to compare your current payments against new rates, or contact me for a personalized analysis.