When your fixed mortgage contrat ends, you will have the option to refinance, either with your current lender, or with a new one. Two main points to consider :


  • Your income qualification criteria needs to meet the current or new mortgage provider financing policy
  • The whole mortgage amount needs to come to an end within a 3 years span maximum (in case you have more than one «tranche»)


At the term of their contract, only 16% of homeowners take advantage of the options refinancing offer them.


Learn about your options


Have you thought about the possibilities refinancing offer to you ?


Here are a few options :


  • Withdraw your tax deductible 3rd pillar plan to reduce the amount of the mortgage, and therefore lower taxes on your 3rd pillar/pension funds retirement payments
  • Pay off part of your mortgage in order to reduce your monthly payments
  • Extract cash from the equity in your home by increasing the amount of your mortgage in order to do pension fund buy-back (rachats LPP), buy a rental property, invest in financial products, or for exemple help your children become home owners


Want to know more ?