Mortgage refinancing

Renovating would be the most common reason to refinance

4-5 months ahead of the renewal date, we start reviewing your choices and securing the best mortgage for you. A fun shopping session to improve your bank’s offer and maximize your position

Would you like to consolidate debt into your mortgage?

Refinance is a great tool to put your financing into order. We’ll look at all your debt and show you how much you can save by consolidation it into your mortgage

Considering another purchase, but don't have the down payment?

Our “5 houses per family” model aims to guarantee your retirement. After buying your first house, all other houses will be purchased using equity. We are here for you!

Why should I refinance, and what about the penalty?

Refinancing your mortgage is one of the most powerful tools in Canada, you can apply to cut costs on your mortgage and other debts as well as to finance your plans and build your wealth.

Since houses in Canada tend to steadily grow in value, there is the option of pulling more equity at very low rates, and using it to reorganize, once priorities and financial life. For instance, renovation may be costly if it’s financed using an unsecured line of credit, or credit card’s debt. Using the mortgage for it while spreading it over the years makes sense as renovations is a long term expense. Same with pulling equity to act as a down payment to purchase your investment property.
Penalty is the biggest cost when it comes to refinance. This is why it’s so important to construct the first mortgage you’ll break down the road, so it will have the cheapest penalty option that can be even reduced furthermore. We specialize in getting you a mortgage that will allow the flexibility of refinance and will leverage your money to create your wealth.


There are amazing rates out there. Should I refinance with whoever gives me the best rate?

Refinancing your mortgage is and amazing tool to save you money. Many of our clients take advantage of the market once rates go dow. Still, when you refinance there is much more than rate to consider.
To you, the difference in rate of 0.1% or even 0.2% will translate over the course of 5 years to ~$2000-$3000 saved on a 500K mortgage. Saying that, a mortgage that is constructed to allow you further modification along the way, will save you 20-60K throughout the 5 year term. Yes, you heard right. There are much more influential features in your mortgage than a simple rate.

So why do we always focus on rates? Because banks would not want to prompt flexibility with the risk of losing you to their competitor. They draw your attention to rate comparison, knowing that the big money is not there. The big money is in taking the right mortgage in the first place, that will allow breaking it for a small cost, leave your current lender and save thousands of dollars by doing so.

Learn the process

Your first step will be probably to dive into the needed knowledge about the mortgage process and the different mortgage products. We are here to guide you through the process until you feel confident with all new concepts and terms and ready to to act

Fill up the application

In this phase we lead a comprehensive process that takes in consideration your personal data, as well as any property you have. You’ll collect all documents upfront and we’ll review them to put together a plan for you

Talk to mortgage experts

After reviewing your data and supporting documents, we will meet. Usually it's done electronically (via Zoom for instance). In this meeting we’ll look at all your needs, current and future plans. The outcome would be a customized plan to address those needs

Get approved

We strive to get you pre-qualified, so even before you have a property in mind, you’ll be confident that all your mortgage aspects have been covered and all your documents have been reviewed. This way, when time comes, you’ll be easily approved

Buy your dream home

We have a high rate of getting our clients the house they love. It’s all thanks to a well guided and upfront financing process. When finalizing their decision, our clients enjoy a peace of mind, knowing that their mortgage is guaranteed

Create your own plan. Secure your future.

Complete our short form. We will get back to you shortly with how much we can approve you for and what your monthly payment will be

Questions about mortgage refinance? We can help!

Of course you can, but it’s not as recommended, as your savings potential is laid out at the time you take your first mortgage. It will be more difficult and much more expensive to refinance a mortgage that has been constructed by the banks. We recommend doing the first step with an independent mortgage broker with the thought of breaking your mortgage within the first 2-3 years.
Usually you’ll hear in the news that there are great rates available to the borrowers. This is your cue to call us. We, on the other hand, run an ongoing algorithm to mine all of our clients that might benefit from refinancing their mortgage and we’ll call so if you are to save a significant amount AFTER paying your penalty. We are known across Canada because of this phone call. And of course, if a new financial need arises, it's a great reason to consider refinancing your mortgage.
Penalty size would be the main criteria as to whether you’ll move out of your mortgage and refinance or stay with the current contract until your term is done and your mortgage is up for renewal. With a fixed rate mortgage your penalty may be 8 times (!) bigger than the variable rate mortgage. It’s a huge difference that may void all the advantages in refinancing. There are ways to lower your penalty. Again, its all about the way your initial mortgage has been structured.
Refinancing midterm is your main tool to saving money. When refinancing, you have to take into consideration costs like penalty, legal fees, etc. We at Sneg Mortgage Team will call you whenever we think you may benefit from refinancing. Therefore we’ll do our best to avoid no-frills lenders or other restrictive mortgages that only let you refinance when you sell your property.
Yes. The lender will usually allow to add the penalty, appraisal and legal costs. Just keep in mind that the point of breaking the mortgage and paying a penalty is a fantastic time to reassess your needs and see what else we should include into one very very cheap loan.

Focused mortgage approval process

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NOTE: ALL MORTGAGE CALCULATOR RESULTS ARE APPROXIMATE VALUES. Please call us for your exact mortgage calculation.

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Fill up this short form and we will get to you shortly, with how much we can approve you for and what will be your monthly payment.

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