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Professional mortgage refinancing services in Ottawa

Refinance your mortgage and lower your monthly payments! Take advantage of today's low rates and start saving now. Our mortgage refinance service will help you find the best rate and terms for your unique financial situation. Contact us to learn more.

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Refinance Mortgage in Ottawa

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  • Short term:

    With mortgage refinance, you can lower your loan term

  • Access to home equity:

    You can use your home equity as collateral for a mortgage refinance

  • Consolidate debt:

    Mortgage refinancing can be used to consolidate high-interest debts too

How does Mortgage Refinance work

When it comes to mortgage refinancing, Mortgage Loan Ontario should always be your first. You might be thinking why, well our team has been dealing with mortgage refinancing contracts in Ottawa for many years now. We know the ins and outs of the market and can help you secure a fantastic deal that can help you with your finances. Not to mention, we can get your application approved as quickly as possible, so you can start with your new refinance contract and save on your bills. For further detail, schedule an appointment with us today. We look forward to resolving your mortgage issues.

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How does mortgage refinancing help?

Refinancing a mortgage can be a great financial tool for anyone who is spending most of their paycheck on clearing dues and debts. If you are applying for mortgage refinancing, once your contract is approved, your existing mortgage will be paid off by the lender and it will be replaced by a new mortgage. The primary benefit you receive is that this new mortgage ideally comes with a low-interest rate. Also, you can consolidate all your existing dues, debts and bill under this mortgage and pay them off at a lower interest rate. By doing this, you will be saving on your monthly billing expenses.

Mortgage Refinance
 Mortgage Refinancing

Tap into your home equity

One of the best features of mortgage refinancing is, it allows you to use the equity that you build in your home while you pay off your primary mortgage. When you have a considerable amount of equity on your property, you can use it as collateral to secure funds. Once you pay off your new mortgage, you will get back your equity. You will again have the freedom to use it again if you need emergency funds.

Different types of mortgage refinancing in Ottawa

  • Cash-out refinances: In this type of refinancing the borrower takes out a new property loan on their property for a larger sum than what they owe on their primary mortgage loan. Afterwards, they will receive the difference between those two loan amounts in cash.

  • Cash-in refinances: In cash-in refinancing the borrower puts a large sum of money into the refinancing process rather than withdrawing it. By paying down a significant portion of your mortgage balance, you will reduce your LTV (Loan-to-value) ratio, and in doing so, increase the percentage of equity in your home. This can result in lower monthly payments or a lower interest rate.

  • Rate and Term refinance: A rate and term refinance enable the borrower to change the loan terms and interest rates of an existing mortgage. It is a beneficial option when interest rates are lower and you as a borrower have the opportunity to pursue more favourable terms with your mortgage lender.

  • No-closing cost refinances: As a borrower, you will not have to pay the closing costs upfront. Instead, the costs are covered with a higher interest rate on the loan. They can also be rolled into the principle. This type of refinancing is a great option for those who only plan to live in their home for a few years, as well as for anyone who wants to access the funds normally that are used for closing costs to manage expenses in other areas of life.

  • Short refinance: In the odd case if you defaulted on your mortgage and your property is at the risk of foreclosure, this is the ideal refinance option for you. With this type of refinancing, your lender with replacing your existing mortgage with a loan with a reduced balance. You can then pay a small monthly repayment that you can afford and easily pay back your mortgage.

Mortgage Refinance in Ottawa
Mortgage Refinancing in Ottawa

Considering refinancing mortgage in Ottawa

Mortgage refinance can help you get out of a financial crisis. If you are not sure whether you should opt for mortgage refinancing, you can get in touch with Mortgage Loan Ontario for all the details you need. We will be more than happy to help you. Speak with our team and discuss your financial needs with us and we will help you fulfil them. Book an appointment today.

Simple Steps to avail refinance mortgage

Save thousands of dollars in your mortgage interest payments


Get pre-approved

Pre-approvals for any type of mortgage requirement.


Avail Competitive rates

Lowest rates guaranteed.


Get cash fast

Cash gets credited within a couple of days.

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Frequently Asked Questions

You can refinance your mortgage at any time but not at the end of your term. You will have the option to take out money and use it for debt consolidation amongst other things. While you will be charged penalties for refinancing before your term is up, you can still refinance at the end of your term.
By refinancing your mortgage, you can access the equity in your home. You could potentially have access to up to 80% of your property’s value. You can use the extra funds for investment opportunities, your children’s education or home renovations.
There are three types of mortgage refinance:
  • Rate-and-term refinance.
  • Cash-out refinance.
  • Cash-in refinance (a variation of a rate-and-term refinance)
The IRS does not view the funds you take from a cash-out refinance as income – instead, it's considered an extra loan. You will not need to include the funds from your refinance as income when you file your taxes.

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