There are many reasons why people refinance their property. Getting a better mortgage rate or debt consolidation are just two of the reasons why people may choose to refinance.

If your refinancing involves leveraging your property for more than 80%, your mortgage will be subject to CMHC fees – please click here for more information on CMHC fees. CMHC fees are fees that are added to your mortgage and are blended into your mortgage payments for repayment. The fees are added on to the mortgage to insure the mortgage since the property is considered a high-leveraged property due to the fact that it has less than 80% equity.

If you are refinancing, please call to set up an appointment to discuss further.

I shall require the following:

• Proof of paid property tax bill prior to our meeting.
  
  
• A copy of your mortgage statement(s) and/or line of credit statement(s) prior to our meeting. This is required so that my office can order a Discharge Statement from your mortgage lender. Please note that upon discharge, mortgage lenders generally have the option to charge you (by tacking it onto your outstanding mortgage amount) the greater of a penalty of three months' interest or the interest rate differential. For more information on the interest rate differential, please click here.
  
  
• A copy of your home insurance policy for the property showing that the mortgage lender is the First Loss Payee or the Loss Insured prior to our meeting. Simply advise your home insurance provider to fax my office the home insurance certificate/binder confirming your mortgage lender’s information is on your policy. (Note that if you are refinancing your condominium, an insurance policy is not necessary with respect to the mortgage lender, unless otherwise advised.)
  
  
• If you are refinancing your condominium, a copy of the condominium Status Certificate may be required prior to our meeting. The Status Certificate can be obtained from your condominium head office for a fee of approximately $100.00 and, if required, should be remitted to my office as soon as possible. Please call to discuss further.
  
  
• 3 of the following 4 pieces of identification: Drivers License, Passport, SIN and/or Birth Certificate to be brought to our meeting.
  
  
• Void cheque, if applicable, to be brought to our meeting.
  
  
• Bills to be consolidated, if applicable, to be brought to our meeting.