Consolidate expensive debts
Review credit cards, unsecured lines of credit and other obligations to determine whether using home equity may create a more manageable structure.
ONTARIO HOMEOWNERS
Refinance with the full cost in view.
If high-interest debts, changing payments or several monthly obligations are putting pressure on your cash flow, the first question is not simply whether you can refinance. It is whether the new structure makes financial sense for your situation.
A clear review of equity, debts, cash flow, costs and realistic lender pathways.
START WITH THE RESULT
What are you trying to solve?
Refinancing is a financing tool—not the goal itself. The right analysis starts with the pressure you want to reduce or the plan you need to fund.
Improve monthly cash flow
Compare the combined current payments with a proposed structure while also considering amortization, total interest and transaction costs.
Access equity for a planned purpose
Assess financing for renovations, investment, education or another defined purpose without treating available equity as automatically affordable debt.
Restructure after circumstances change
A renewal, income change, separation, business transition or credit issue may require a different structure and a realistic review of available lender categories.
DID YOU KNOW?
Good decisions start with context—and the right questions.
Official Canadian data shows why household debt and affordability deserve a structured review. The numbers provide context; your own income, equity, credit and plans determine whether any solution is appropriate.
Household credit-market debt relative to disposable income
That is approximately $1.76 of credit-market debt for every dollar of household disposable income across Canada. It is national context—not a measure of any individual household.
Households continued to report affordability pressure
The Bank of Canada reported that high prices and economic uncertainty remained major barriers to spending, while households continued to express affordability concerns. Reviewing monthly obligations can be useful—but a refinance should still be tested against its full cost.
A lower payment does not automatically mean a cheaper solution
Extending amortization may lower the required payment but can increase the repayment period and total interest. Compare both the immediate cash-flow result and the long-term cost.
Different lenders may assess the same file differently
Income, credit, property and equity can be reviewed under different lender policies. The first step is to understand why the original structure did not fit—not to assume that another approval is guaranteed.
Official statistics are shown for general educational context and were current as of October 17, 2026. They do not predict rates, approval or results for an individual borrower.
A STRUCTURED REVIEW
Four steps before choosing a refinance.
- 01
Define the result
Clarify whether the priority is cash flow, debt repayment, access to funds, timing or another objective.
- 02
Build the full picture
Review property value, mortgage balance, penalty, income, debts, credit and upcoming changes.
- 03
Compare realistic paths
Consider keeping the current mortgage, refinancing or another structure through traditional or alternative channels when appropriate.
- 04
Test the full cost
Compare payment, rate, amortization, penalty, fees, total interest, flexibility and the exit plan.
LOOK BEYOND THE NEW PAYMENT
Costs and trade-offs to review.
Mortgage penalty
Breaking the current mortgage before maturity may create a prepayment charge. Obtain the lender’s current estimate rather than relying on an assumption.
Appraisal, legal and financing costs
Depending on the lender and structure, appraisal, legal, discharge, lender or brokerage costs may apply. Applicable costs should be disclosed and included in the comparison.
Longer repayment period
Moving short-term debts into a long amortization can improve cash flow but may keep the debt outstanding longer. A repayment plan matters after consolidation.
Debt becomes secured by the home
Consolidating unsecured debt through home financing can place that debt against the property. Payments must remain affordable, and missed obligations can put the home at risk.
COMMON QUESTIONS
Questions homeowners ask before refinancing.
Is refinancing the same as renewing?
No. A renewal continues financing at maturity. A refinance changes the existing financing and may involve a different amount, amortization, term or lender.
Can credit cards and lines of credit be consolidated?
They may be considered when sufficient equity and lender qualification requirements are met. The full cost and the risk of securing debt against the home should be reviewed.
How much equity can I use?
Usable equity depends on the appraised value, existing secured balances, requested financing and the lender’s maximum loan-to-value and qualification criteria.
What should I prepare for a first review?
Start with the estimated property value, current mortgage statement, approximate penalty, income, monthly obligations, debt balances and the result you want. Do not send sensitive documents through the website form.
ASK ANDREY
Describe the pressure you want to solve.
Share a brief overview of your mortgage, debts and goal—without sensitive documents or identification details. Andrey will contact you to discuss an appropriate next step.
Mortgage products, rates, available equity and qualification are subject to lender criteria, property valuation and approval. Information on this page is general and is not a commitment to lend or a guarantee of savings.