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A refinance, or “refi” for short, refers to the process of revising and replacing the terms of an existing credit agreement, usually as it relates to a loan or mortgage. When a business or an individual decides to refinance a credit obligation, they effectively seek to make favorable changes to their interest rate, payment schedule, and/or other terms outlined in their contract. If approved, the borrower gets a new contract that takes the place of the original agreement.

Reasons you may want to refinance:

  1. To lower your debt payments: Pay off any high interest rate debt (e.g. credit cards, unsecured loans, etc.) by switching it to your lower rate mortgage debt

  2. To help your family grow: Contribute to your children’s RESPs or aid in their existing education costs, enable a home renovation, or take your family on a vacation

  3. To protect your family: Emergency funds to handle unexpected expenses

  4. To invest: Maximize your RRSP or TFSA contributions, buy investment real estate (e.g. residential property, including some types of multi-residence rental properties)


Home ownership is something very important for many Canadians. Home ownership is the start to increasing your net worth and building your financial future.

Reasons to purchase property:

  1. You may be a first-time home buyer
  2. An investor looking for a second property
  3. Wanting to purchase a cottage or perhaps wanting to build your dream home

Whatever your reason, Sebastian will diligently work with you to make your dreams a reality

Debt Consolidation

Debt consolidation refers to the act of taking out a new loan (refinancing) to pay off other liabilities and debts. Multiple debts are combined into a single, larger debt, such as a loan. Usually with more favorable payoff terms, a lower interest rate and lower monthly payment, or both. Debt consolidation can be used as a tool to deal with student loan debt, credit card debt, and
other liabilities.

Key takeaways:

  1. A single conveniently-timed monthly payment
  2. Total lower payment due to a lower interest rate on your refinanced debt
  3. Remaining funds can be used to re-invest

Lines of credit

A home equity line of credit (HELOC) is a line of credit that uses the equity you have in your home as collateral. The amount of credit available to you is dependent on the equity in your home, your credit score, and your debt-to-income ratio. Because HELOCs are secured by an asset, they tend to have higher credit limits and much better interest rates than credit cards or personal loans. While HELOCs usually have variable interest rates, there are some fixed-rate options available.

Key takeaways:

  1. Loan yourself quick money at a favorable interest rate

  2. You can use your line of credit to pay off credit card debt

  3. Make interest payments on the funds you use, not your total credit limit

New Construction Financing

New construction financing options typically fall into 3 categories.

1. Self-Build Home

Self-Build Home is when you act as your own contractor; hiring subcontractors to complete the work.

Your mortgage options are: Progress Draw Mortgage, Completion Mortgage

2. Self-Build: Builder/Contractor (Turn Key)

Self-Build: Builder/Contractor is sometimes referred to as Turn Key. This is when you enter into an agreement with a contractor to build your home. Typically, the builder will request Financing Draws.

Your mortgage options are: Progress Draw Mortgage, Completion Mortgage

3. Buying from a Builder (Take Out)

Mortgages on newly constructed homes, town homes, condominiums. Client requires funds when the home is 100% complete.

Your mortgage options are: Completion Mortgage

Term Renewals & Early Renewals

An early renewal involves renegotiating the mortgage term and interest rate before the maturity date. Serious advocates of financial security through real estate know that mortgage rates, terms, and conditions fluctuate often. This is why they advise you to revisit your current mortgage regularly to see if the market is accepting a lower rate or better terms … regardless of how long you’ve had it. Some mortgage products allow the borrower to renew their mortgage early at any time during the term. Others may charge a small prepayment charge, but sometimes it may just be worth it to renew early anyway.

Transferring to Another Lender

Not all lenders can give you the best deal all the time.

Your financial situation may have changed significantly since the last time you renewed your mortgage and/or the lender may have a changed their approach to your mortgage.

Sometimes its better to switch lenders to secure the best mortgage for yourself in these circumstances.


What is a Mortgage Pre-approval?

A mortgage per-approval is a process that provides you with important information to help you with your home search.

When you get per-approved for a mortgage, you’ll find out:

  • The maximum amount you can afford to spend on a home

  • The monthly mortgage payment associated with your maximum purchase price

  • What your mortgage rate will be for your first mortgage term

Applying for a mortgage per-approval doesn’t commit you to one single lender. However, getting per-approved does guarantee that the mortgage rate you are offered by a lender will not change for 120 to 160 days.

By “locking in” your mortgage rate, you’re protected if interest rates rise while you’re shopping for a home.

The following steps are done for all my clients:

  • Equifax credit bureau is pulled for all applicants. Many Banks do not pull a bureau for Mortgage Pre-approval

  • Full underwriting process is done

  • All income documentation is collected in advance to ensure accuracy from application

  • Purview Broker Report – This is the Land Registry Report that will provide information on the property of interest. Estimated value of property is provided along with Mortgage information