What's the typical break penalty on a refinance?

Variable-rate mortgages: 3 months' interest. Fixed-rate mortgages: greater of 3 months' interest or the IRD. Big-Five fixed-rate IRDs can be substantial — we run the math before recommending a break.

How fast does a refinance close?

Standard prime-lender refinances close in 2–3 weeks. Alternative lender refinances usually run 7–14 days. Private refinances can close in 5–10 days for clean equity-based files.

Will refinancing hurt my credit?

Briefly — the credit pull and mortgage replacement appear on your report. Within 90 days the dip typically reverses. Refinancing with the same lender often avoids a hard pull entirely.

For: Existing Homeowners

Mortgage Refinance

"I'm sitting on home equity but I can't seem to access it."

We restructure your existing mortgage at today's most competitive terms, freeing up equity and often lowering your overall monthly cost. Ideal when you need capital, want better rates, or are restructuring debt.

Access up to 80% of your home's value
Roll high-interest debt into one low payment
Often improves monthly cash flow by $500–$2,000
Closings in as little as 7–14 days

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Tell us what you're financing

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Mortgage Refinance FAQ

Common questions

Real answers from a licensed Ontario mortgage broker.

Up to 80% of your home's appraised value, less your existing mortgage balance. So a $900K home with a $400K mortgage typically allows up to $320K of accessible equity, before legal and penalty costs.

Mortgage Refinance by City