Refinancing allows you to access your home’s equity to accomplish your goals.

The new funds can be used for debt consolidation, renovations, investments, purchasing a property, and more. If you already have a mortgage, the new mortgage is used to pay off your existing mortgage, cover any costs associated with refinancing so that no out-of-pocket funds are required, and the balance of funds can be used as desired.

Not only can you access equity when refinancing, but you can extend your amortization period for payment relief.

Even if payment relief isn’t required now, consider keeping your base payment low in the event of future hardship and using your prepayment privileges to voluntarily pay off your mortgage faster if desired. Our office will carefully consider the details of your new mortgage to ensure that it is the lowest cost option both now and in the future.

Refinancing can be done at any time; you do not have to wait until renewal. Through a full review of your financial picture, our office can make a recommendation on whether the most financially savvy decision is to refinance mid-term or wait until maturity, setting you up for success.


How our client saved by refinancing to consolidate debt:


Even if market rates are higher than your current mortgage, you may benefit from consolidating higher interest debt.

Since interest rates on mortgages are typically lower than unsecured debt, consolidating debt into your mortgage allows more of each payment to be applied to the debt itself, making you debt free faster.


The client opted to refinance to consolidate her line of credit and credit card into her mortgage, closing 10/03/2022.


Before Refinancing

Mortgage – $161,716

(5 Year Fixed of 2.99%, 25 Year Amortization
APR of 3.31%)

Lines of Credit – $30,922
Credit Cards – $19,477

Total Monthly Payments – $1681.74

After Refinancing

Mortgage – $215,000

(5 Year Fixed of 2.99%, 25 Year Amortization
APR of 3.31%)

Lines of Credit – $0
Credit Cards – $0

Total Monthly Payments – $1171.94

Monthly Savings: $509.80
Annual Savings: $6117.60

The client chose to extend her amortization period for additional payment relief.

However, she could have chosen a shorter amortization period while still experiencing savings:

30 Year


Savings of

$509.80 per month
$6117.60 per year

25 Year


Savings of

$407.93 per month
$4895.16 per year

20 Year


Savings of

$246.78 per month
$2961.36 per year


Ready to see how we can

help you REFINANCE?



I would highly recommend The Mortgage Advisors as a broker for the two following reasons:
1) I secured the best rate possible
2) Lisa. She is exceptionally knowledgeable and a great communicator. She provided me with more information than any of the large lenders ever did and as a first time home buyer this was highly appreciated. Her responsiveness to questions helped me quickly understand the process and make good decisions.

Even without the lower rate I believe I still would have chosen to do business with The Mortgage Advisors purely based on my experience dealing with Lisa.

J. Sine, May 2024


5 stars doesn’t do Corinna and Lisa justice. They went above and beyond for me throughout the entire mortgage process. I can’t thank them enough for all their help!

I highly recommend them to anyone who is looking for a great customer service experience!


M. Shannon, June 2022


I recommend 100% if looking to sell / buy or refinance. Corinna and Lisa have made the process so easy in purchasing a new home. Very professional and quick replies when having any questions or concerns.

Thank you for your help. Greatly appreciated.


C. Sirois, May 2022


I cannot thank Corinna and Lisa enough! Not only do they make sure everything is in order right from the minute you start working with them, but they keep you updated every step of the way. I was completely new to how the process worked with refinancing my home, Lisa was patient and so knowledgeable, answering all of my questions in great detail and in a timely manner. I recommend the mortgage advisors to anyone in need of this type of service, you will not be disappointed. Many thanks to all the work that was done for us to make this happen!


B. Lefebvre, January 2022