{"id":10,"date":"2016-09-13T13:48:38","date_gmt":"2016-09-13T17:48:38","guid":{"rendered":"http:\/\/dev22.604media.com\/DLC_contemporary\/?page_id=10"},"modified":"2026-09-08T18:07:23","modified_gmt":"2026-09-08T22:07:23","slug":"refinance","status":"publish","type":"page","link":"https:\/\/hosseinfiroozsani.ca\/en\/refinance\/","title":{"rendered":"Mortgage refinancing"},"content":{"rendered":"

Refinancing means replacing your current mortgage with a new one \u2014 to free up cash, lower your payments or change your conditions.<\/strong><\/p>\n

Unlike a renewal, a refinance can happen at any time, including mid-term. That is exactly where the math matters: breaking a term usually triggers a penalty, and the move has to be worth more than it costs.<\/p>\n

Reasons that hold up<\/h3>\n

Consolidating expensive debt.<\/strong> Folding credit card and personal loan balances into your mortgage usually cuts the monthly cost substantially. In exchange, you spread those debts over a longer period and secure them against your home.<\/p>\n

Financing renovations.<\/strong> Often cheaper than a personal loan or an unsecured line of credit, especially for a major project.<\/p>\n

Freeing up a down payment.<\/strong> For a rental property, a cottage, or to help a child buy.<\/p>\n

Reorganizing after a separation.<\/strong> Buying out the other spouse’s share and putting the loan in one name.<\/p>\n

Changing your conditions.<\/strong> Moving from variable to fixed, or the reverse, based on your tolerance and your plans.<\/p>\n

The calculation we run first<\/h3>\n

1.<\/strong> The exact penalty.<\/strong> We request it from your current lender rather than estimating it. On a fixed term it can reach several thousand dollars.<\/p>\n

2.<\/strong> The transaction costs.<\/strong> Appraisal, notary, discharge of the existing mortgage.<\/p>\n

3.<\/strong> The real saving.<\/strong> Over how many months does the move pay for itself? If the break-even is four years and you expect to sell in two, the answer is no.<\/p>\n

4.<\/strong> The alternatives.<\/strong> Sometimes a second mortgage or a line of credit costs less than breaking a good term. We compare before deciding.<\/p>\n

The warning that matters.<\/strong> Consolidating debt lowers your payments but does not fix what created the debt. Many people refinance, clear their cards, and fill them again within eighteen months \u2014 this time with a larger mortgage on top. If I think that is your scenario, I will say so.<\/p>\n

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We obtain your actual penalty and cost out the whole transaction before you decide anything.<\/p>\n

Let’s run the numbers<\/a><\/p>\n

or call directly: 514-889-4667<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Canadians today face many reasons to refinance their mortgage.<\/p>\n","protected":false},"author":1,"featured_media":278,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":[],"yoast_head":"\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\n\n\t\n