What is Refinancing My Mortgage?

Signing Mortgage Paperwork

Refinancing your mortgage means you are paying off your current mortgage loan and replacing it with a new mortgage.

Homeowners may wish to refinance their mortgage to get a better rate, switch terms, change the mortgage amortization period or borrow against their home equity. 

If you are exploring refinancing your mortgage, it’s important to weigh your options.

At Cambrian, we offer our low mortgage rates to everyone, without negotiation, so you could lower your payment and save thousands of dollars over the life of your mortgage.

If you are planning a larger expense such as extensive home renovations, want to consolidate your debt, or purchase a vacation property refinancing your mortgage can be a less expensive way to finance your borrowing needs.

You can borrow up to 80% of the market value of your home, including your current mortgage and other home-secured lending, which makes refinancing an excellent alternative to high-cost borrowing.

Start your application online or contact your branch today to make an appointment to speak with a Cambrian Financial Services Officer.