Stratford Mortgage Broker

Refinance your mortgage

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Home Refinance Mortgage
If you mortgage is up for renewal or you've built up some equity and want to consoldate some high interest debts, not only do we have the largest selection of refinancing loan products on the market, but offer competitive rates.

However it has been a little tricky this year for many people due to many changes this year you need much higher credit scores and income to be able to qualify to either refinance or take equity out of your property. And you have to qualify at either the Bench Mark rate, currently 5.34% or 2% higher than contract rate (the higher of the two).
You can refinance if you have the equity, up to 80% of the appraised value of your home with a maximum amortization up to 30 years. *A few select lenders still offering 35 years for a rate premium.

*The New Mortgage Rules came into effect January 1st,2018. When qualifying for a refinance you must qualify under the "stress test" at the bench mark which is currently 5.34% as opposed to the contract rate or 2% above contract rate (the higher of the two). This may limit the amount you will qualify for and you will need more income to qualify for the same amount you did before.

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Toll Free: (866) 592-0516 Fax: (866) 407-5702 Mailing Address: 321-356 Ontario Street, Stratford, ON N5A 7X6