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Mortgage renewals and refinancing

The next step in your homeowner's journey

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Renewing or Refinancing

 
There are a few key points to consider when thinking about renewing or refinancing your home.

Are you happy with the status quo?

This is a great time to review your finances and the options within your  mortgage terms.

 

Want to reduce your monthly payments?

New baby or kids in university? You may want to consider reducing your monthly payments.


Interested in financing renovations to your home?

This is a great time to review your finances and the options within your  mortgage terms.


Want to refinance and consolidate other debt?

One way to reduce interest costs is to consolidate your debts when refinancing.


Are there other expenses you need covered?

Use the equity in your home to help pay for costs like repairs, education or investments.


​​Are you concerned about your current rate?

This is a great time to review your finances and the options within your  mortgage terms.


Renewing versus Refinancing

Learn about the differences between refinancing and renewing your mortgage:​​

RENEWING
 

 When you renew, you extend the term and have the option to modify the lifespan of your mortgage

 This is a good option if you are not needing to  borrow any additional funds

 Requalification is not needed which makes the renewal process straight forward
 

REFINANCING
 

 Refinancing allows you to increase your mortgage up to 80% of the property’s appraised value

 This option requires you to requalify and provide an appraisal of your property. You do need to requalify

 You can refinance before the term ends without penalty for blended mortgages

WORKING WITH A MORTGAGE SPECIALIST

Let us guide you through your homeownership journey

Our mortgage advisors love helping home buyers continue their homeownership journey and can customize your mortgage  just like you can customize the paint colours and lighting fixtures in your new home.

  Combine your financing  to meet your specific needs (mortgage, car loan, home reno) to help save you money

 Finding a  mortgage term and rate structure that’s right for you

​ Securing solutions for future needs like, renovations, an income property or vacation home

Featured mortgage rates

5-year fixed

2.390%

5-year variable

2.550%

COASTAL COMMUNITY MORTGAGES

How much will my new payments be?

Estimate your mortgage repayments when you renew or refinance.


FOLLOW THESE STEPS TO SEE YOUR RESULTS:
 

STEP 1:

Click Payment tab and enter mortgage amount

STEP 2:

Enter amortization period & payment frequency

STEP 3:

Select mortgage term

STEP 4:

Input the interest rate

Let us help you renew or refinance


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Talk to us now

Start your renewal or refinance with one of our experts


Work with a mortgage specialist

Have a mobile mortgage specialist visit you when and where you want

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Renew or refinance in branch

Book an appointment online at the branch of your choice