Refinancing Question

mystical89 wrote: ↑ Hi All,

Looking for some insight from the professionals.

I currently have a 1 year mortgage with a second tier lender (i forgot the exact term but its not with one of the big banks), which just recently began. My plan is to try and refinance after the 1 year with one of the big banks for a 4 year term. Also, for additional context, I have another rental property.

My main question is this - I may potentially be up for a promotion at work which requires me to relocate to Dublin near the end of 2020. In the event that I pursue this opportunity, what are my chances that one of the top banks will offer me a mortgage? From the research I've done, Canadian expats who want to purchase property back in Canada can do so, but will most likely need to put 35% down. Im just not sure how this works when refinancing.


Any insight will help! Thanks!

BrokeMillennial wrote: ↑ Just remember that you will need to be here to sign all the documents. So if you're going overseas to work, get your application approved and signed before you leave.

bomber17 wrote: ↑ Refinance is the same way as when you were purchasing new property. A full application is done including verification of income and employment. Check with your lender but in this case, you may be able to bypass the 35% down requirement.