Refinance

Refinancing your home is usually considered when you are looking to get a better interest rate, consolidate your debts or borrow more money.

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When trying to secure a new mortgage/finance, consider the following:

• if there are lender fees

• if there are broker fees

• the interest rate

• the monthly payment amount

• the penalties for breaking the mortgage

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When completing a refinance, your lawyer will:

• pay off some or all of your existing debts, as the bank requires

• verify that all property taxes have been paid

• ensure there are no writs against your name

• register this new mortgage on your home

• discharge the old mortgage on your home

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