Mortgage Refinancing

Mortgage Refinance Multi-Loan Renovation

We often ask ourselves the same question, why not move and afford a home that we really like? Several factors make us reluctant to take action, such as the high price of homes for sale or the fact that we like the neighborhood where we have lived for several years. Further reading at

So why not enlarge?

A mortgage broker will explain in detail how the renovation loan works, which allows the financing of construction work from your current mortgage.

Renegotiate your mortgage, the most logical choice!

When comparing the interest rates of a personal loan (between 6% and 10%) to the mortgage rate (between 2.79% and 2.99% *), the choice remains obvious. In addition, knowing that the life of a personal loan does not normally exceed 7 years, it is then more advantageous to amortize this loan over a longer period.

* Rates effective August 2017 for a fixed term of 5 years.

Multi-Loan Mortgage Line of Credit

The home equity line of credit is one of many mortgage products, its main advantage is that it allows you to use some liquidity very easily and at no cost, provided that it does not exceed 65% of the market value. of our property.

Main advantages:

  • Quick and easy cash advances, depending on your needs – Funds are withdrawn as often as you like, up to the authorized credit limit, at no cost and without having to go back to the bank. notary.
  • Very flexible repayment terms – minimum interest required.
  • Benefit from the advantageous mortgage rates, you will no longer have to resort to personal loans, personal lines of credit, credit cards.


A reminder, as is the case for the main residence and income properties, it is also possible to refinance your second home and to achieve equity that can be used to carry out a project that is really important to you for a long time. Do not waste time, life is sometimes too short.

Self-employed worker

Fortunately today, there are products on the market for borrowers with self-employment status. They can not confirm their income by the usual means known, such as a letter of employment and a pay stub. Rest assured, we will not let you down.

There are two types of self-employed workers that must be differentiated. The first one declares enough income to the governments so that its application for a mortgage loan is in conformity with the standards of the lenders. The second type does not declare all its income and could not comply with the standards required by the lenders. In this second case, you will need to provide a down payment of at least 10% and your credit bureau will have to demonstrate sound management of your debts.

Refinancing with minimal reported income (equity loan)

This program has been designed for a particular type of buyer. Among other things, it is intended for people with low incomes or who report little income. Buyers must provide a minimum of 35% down payment. Examples include retirees, self-employed, tips employees, such as hairdressers, servers.

Financial institutions may grant financing ranging from 65% to 80% of the market value of the property, depending on the client’s financial situation.

2nd rank mortgage

In which case could I need a second mortgage?

It’s very simple, the 2nd rank mortgage is widely used when clients need mortgage financing before their first mortgage matures.

Take the example of Marc who holds the first mortgage with a loan term of 2017. Marc needs $ 30,000 and wants to avoid paying a penalty by refinancing his property before maturity. Well, it is possible to take out a second mortgage, for a term of 3 years, until the first mortgage comes to an end. In this way, Marc will save by having no penalty to pay. This is the most cost-effective way to proceed, we work for you in your best interests.