Access up to 80% of your home's value
Turn built-up equity into cash for renovations, investments, or major expenses.
Refinancing replaces your current mortgage with a new one — to access home equity, secure a lower rate, or consolidate higher-interest debt. My Future Mortgage compares your options across 50+ lenders and shows you whether the savings outweigh any break costs before you commit.
Turn built-up equity into cash for renovations, investments, or major expenses.
If rates have dropped or your credit has improved, refinancing can reduce your monthly payment.
Roll credit cards and loans into your mortgage at a far lower rate to simplify payments.
We calculate your prepayment penalty up front so you know if refinancing actually pays off.
In Canada you can typically refinance up to 80% of your home's appraised value. For example, on a $700,000 home you could access up to $560,000 minus your current mortgage balance.
Usually yes — breaking a closed mortgage triggers a prepayment penalty (often three months' interest or an interest-rate differential). We calculate this for you so the decision is clear.
Refinancing often makes sense when you can secure a meaningfully lower rate, consolidate expensive debt, or access equity for a high-value purpose — and the long-term savings exceed the break costs.