Refinancing Rates

Re-negotiate your current mortgage to unlock more equity or reduce your monthly payments and rate.

Refinancing your home

As home values continue to rise across Canada, many homeowners are finding themselves with significant equity in their homes. With this increase in equity comes the opportunity to refinance a mortgage and potentially save money on monthly payments and/or interest costs.

There is a general rule to keep in mind when considering a mortgage refinance: borrowers must have at least 20% equity in their home. This equity requirement is in place to protect lenders from borrowers who may default on their loans.

At The Mortgage Firm, we can help you determine if refinancing is right for you and provide you with the tools and resources you need to make the best decision for your financial future. Contact us today to get the best home refinance rates.


When you apply for a mortgage refinance, your credit scores will play an important role in the decision-making process. Lenders will use your credit scores to get a better understanding of your financial history and to determine whether or not you're a good candidate for a mortgage refinance.

Your credit scores will be based on several factors, including how long your accounts have been established and the most recent activity on each account. Therefore, it's important to make sure that all of your accounts are in good standing before you apply for a mortgage refinance.

When you take out a cash-out refinance, the money you receive is considered debt, not income. This means that you will eventually have to pay it back, and you won't need to report it as income on your taxes.

There are no rules governing the number of times you can refinance a mortgage. You can refinance as many times as you like, as long as you meet the eligibility requirements each time.

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Your mortgage matters. To learn about your mortgage options, lock in your mortgage rate and more – whatever you need, we’ll do the work for you.