Refinance as a restructuring, not a rate hunt.
Pulling equity, consolidating debt, or lowering your payment all run through the same math: penalty, new structure, and break-even. We model all three before you commit — so the refinance actually puts you ahead.
- Licensed FSRA brokerage
- Penalty + break-even modelled
- Access to 140+ lenders
When refinancing makes sense.
Debt consolidators
You want to roll high-interest debt into your mortgage at a far lower rate — and free up monthly cash flow.
Equity takers
You need capital for a renovation, investment, or major expense and want to borrow against your home equity efficiently.
Rate switchers
Rates have moved and you're mid-term. The question is whether the penalty to break is worth the savings — we run that math.
Structure changers
You want to change amortization, switch fixed-to-variable, or add a HELOC component alongside the mortgage.
The penalty math decides everything.
Most refinance decisions are won or lost on the penalty calculation.
Breaking a fixed mortgage mid-term triggers a prepayment penalty — often the greater of three months interest or an interest rate differential (IRD) that varies enormously between lenders. We calculate it precisely, then model whether the new structure recovers it.
From there we look at the whole picture: blended-rate options that avoid a penalty entirely, debt consolidation savings, equity-takeout limits (up to 80% loan-to-value on a refinance), and the new amortization. The recommendation is the structure that puts the most money back in your hands over your real time horizon.
What refinancing actually does.
Refinancing replaces your current mortgage with a new one — to pull equity, consolidate higher-interest debt, lower your payment, or change the structure entirely.
The number that decides everything is the penalty to break your current mortgage. We calculate it precisely, then model whether the new structure recovers it within your real time horizon. On a conventional refinance you can borrow up to 80% of your home’s value, less the balance you owe.
The recommendation is whichever structure puts the most money back in your hands over the time you’ll actually hold it — not just the lowest headline rate.
Run your numbers in the calculatorYou have meaningful equity and a clear use for it
A renovation, an investment, or a major expense — and enough equity in the home to fund it efficiently.
You’re carrying high-interest debt
Rolling it into a mortgage rate can cut your monthly cost and total interest sharply.
You’re mid-term with a rate gap worth the penalty
Rates have moved and the savings may outweigh the cost to break — we run that math before you commit.
- You’re at renewal already — a switch at maturity avoids the penalty entirely, so that’s a renewal, not a refinance.
- You want revolving access rather than a lump sum — a HELOC fits that better.
- The penalty wipes out the savings — we’ll tell you plainly when staying put is the smarter move.
From penalty to new structure.
We quantify the cost to break, then build the structure that beats it.
Intake
Current mortgage details, balance, rate, and your refinance goal.
Penalty math
We calculate your exact prepayment penalty and break-even point.
Structure
Consolidation, equity takeout, or blend — modelled against your time horizon.
Funding
New mortgage registered, old one discharged, funds disbursed.
What you need now, and what comes later
You only need the first group to start. We request the rest as your file progresses — and we tell you exactly when.
Get the full document checklist
See exactly what we’ll ask for — grouped by when you need it, with what’s required vs. situational clearly marked. We’ll email you a branded PDF you can keep and work from.
Refinances need current mortgage statements and property details. Equity takeouts may trigger an appraisal — we flag that early.
How long it takes
- 01
Intake to options: 48-72 hours
Once we have your current mortgage details, we return penalty math and structured options within two to three business days.
- 02
Approval to funding: 2-4 weeks
Appraisal (if needed), lender approval, and lawyer registration drive the timeline.
- 03
Funds disbursed: on closing
Consolidated debts paid out or equity released on the closing date.
Questions buyers ask
How much equity can I take out when refinancing?
On a conventional refinance you can borrow up to 80% of your home value (loan-to-value), less your current mortgage balance. Insured refinances are no longer available, so the 80% LTV ceiling applies.
How is the prepayment penalty calculated?
For a fixed mortgage, it is typically the greater of three months interest or an interest rate differential (IRD). The IRD formula varies significantly between lenders — which is why the exact figure matters and we calculate yours specifically.
Is it worth refinancing to consolidate debt?
Often, yes — rolling high-interest debt into a mortgage rate can dramatically cut monthly cost and total interest. The trade-off is amortizing that debt over a longer term, so we model total-interest-paid, not just the monthly drop.
What's a blend-and-extend?
Some lenders let you blend your existing rate with current rates and extend the term, avoiding a penalty entirely. It is not always the cheapest path, but when it is, it removes the penalty from the equation. We compare it against breaking outright.
Will I need an appraisal?
For an equity takeout, usually yes — the lender needs a current value to confirm loan-to-value. For a straight rate-and-term refinance, an automated valuation sometimes suffices. We flag which applies at intake.
See whether refinancing actually puts you ahead.
Start your refinance. About 12-14 minutes.
Start a refinance