Refinance Discussions, Offers & Promotions

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  • Refinance mortgage reason question

    Hello all, Our house is worth around 600,000. Mortgage left is 320,000. We want to refinance to 420,000 to get 100,000 cash. The cash is to be used in private investment. On the refinance form my mortgage lender asks the reason for refinancing. My question is, if ...

    • StTakla1
    • Dec 6th, 2020 5:36 pm
    • Forum: Personal Finance

  • Do you get penalty if you refinance with TD

    Already have existing mortgage up for renewal soon.Thanks

    • Redsanta
    • Nov 17th, 2020 9:11 pm
    • Forum: Real Estate

  • Refinance auto loan or no?

    Bought car over a year ago brand new. The dealer made me a pretty solid offer but the interest rate wasn't great I thought (5.74% fixed annual through TD) for about $17k financed. Down to about ~13k now after a bit over a year. Should I go to banks and try get a better rate or is the rate as good as...

  • Refinance Rental to Remove Down Payment

    If you put 20K down to buy a rental property, would it be ok from CRA's standpoint if you refinance the rental at some point to reclaim that 20K. For example. Rental Property Price: 100K Down Payment: 20K Mortgage: 80K At some future point: -- Increase mortgage by 20K. ...

  • Refinance mortgage to complete home reno

    ... costs, day care for our child etc... We were offered a $15K line of interest with 7% interest. The other suggestion made by our bank was to refinance our mortgage. We are currently on a 5 year term (25 year amortization) at 2.59%, and they would add the new $30-$40K loan at about 2.19% which ...

    • holden57
    • Aug 18th, 2020 8:40 am
    • Forum: Personal Finance

  • Mortgage is up for renewal, refinance or just straight renew??

    ... is up for renewal. Renewal rates are 1.91% with CIBC. CIBC financial advisor from my local branch reached out to me and asked if I want to refinance but did not specify on the rates. From what I see, I have 2 options: 1. renew at 1.91% variable and set it aside for 5 yrs. 2. refinance to ...

    • brutal
    • Aug 2nd, 2020 1:52 pm
    • Forum: Real Estate

  • Refinance or Mortgage & HELOC

    ... and our broker reached out because rates are low. We have some renovations we are planning to do. How does one determine whether it’s best to refinance or renew the mortgage and do a HELOC? What are some pros and cons to both? If we are planning to move in 2-3 years is it best to do a variable ...

    • Topher86
    • Jul 30th, 2020 11:56 am
    • Forum: Real Estate

  • Help with rental refinance for tax purposes..

    EDIT - found answer from CRA and income tax act.

    • kefergus
    • Jul 28th, 2020 12:19 pm
    • Forum: Real Estate

  • Refinance conditions on money

    In the process of negotiating a cash-out refinance to 80%. Incumbent lender (my credit union) first asked what I wanted the money for: debt consolidation and renovations. Now they say they want contracts in place prior to approval (4 weeks away ...

    • easybee
    • Jul 21st, 2020 1:29 am
    • Forum: Real Estate

  • Mortgage free or refinance to buy another investment property?

    ... on being mortgage free to kind of shift in another direction. The 5 year term on my coop is ending in less then 2 years and I will need to refinance. Originally my plan was just to refinance the $55k or whatever is remaining at the time and/or just pay off the mortgage as fast as possible. ...

    • pleebent
    • Jun 4th, 2020 12:10 am
    • Forum: Real Estate

  • Anyone ever refinance a car loan from a dealership just to get a lower rate, not because they can't pay it off?

    Sorry, possible dumb question alert. I have a 1.99% loan from BMW that's up in a couple of years with a balloon payment at the end. I can comfortably pay it off but took the loan hoping to beat the 1.99% through investments (jury's still out on that after what COVID has done to the market but we'll ...

    • ovaltene
    • May 14th, 2020 2:35 pm
    • Forum: Automotive

  • Web/ electronic Notary service for Refinance

    Myself and my wife are Canadian citizens working in US on TN visa. We are in process of refinancing of our Canadian home With TD. We electronically signed the documents sent by bank. The bank sent the documents to the lawyer and lawyer wants us to sign in her presence. Since we are in US and can’t t...

    • cooltoronto
    • Apr 21st, 2020 10:31 pm
    • Forum: Real Estate

  • Refinance and Rental - Fixed/Variable

    What are the current rates on a Rental property with a refinance?5yr fixed and 5 yr variable

    • deluxster
    • Apr 13th, 2020 7:44 pm
    • Forum: Real Estate

  • Refinance Options

    ... I have a pre construction closing on early August and I plan to close it without mortgage on the title. I am short of $150,000 now. So I plan to refinance my TD mortgage property If I want to refinance with TD, do I need to pay admin/legal fee? Which one is better? blend rate on the blend mortgage ...

    • oajlu
    • Mar 31st, 2020 5:20 pm
    • Forum: Real Estate

  • Refinance or Wait to Renew

    My mortgage broker contacted me asking if I’m interested in a refinance? My current mortgage term ends next November 2021. I currently have a 5 yr fixed at 2.39%. I assume the only reason to refinance would be if the rate was much lower than my 2.39? Would ...

    • Topher86
    • Mar 31st, 2020 5:42 am
    • Forum: Real Estate

  • Breaking mortgage to refinance after property value drops

    ... that was originally worth 500k and that I have a mortgage of 400k. Now, the property is worth 300k, and I want to break my current mortgage and refinance to get a lower interest rate. Would I be owing the bank money before the refinance can go through? Or would that new interest rate simply ...

    • dc200
    • Mar 20th, 2020 7:42 pm
    • Forum: Real Estate

  • Mortgage due for renewal Feb 2021 - Should I try to refinance now?

    Hey Folks, My mortgage is due for renewal next year, Feb 2021, once my 4 year fixed ends. Given the current situation, am I better off waiting closer to the renewal date or shop around now? My wife and I have not yet been affected by COVID-19. I have the ability to work from home. She's a flight att...

    • najibs
    • Mar 19th, 2020 10:13 am
    • Forum: Real Estate

  • Refinance Or Not? Condo In Search Of House

    Condo home owner (1st time), mortgage on condo is very little but has many years left. Looking to move into a house. It's been suggested to refinance the condo as an investment property and use the 80% of the refinance value as a down payment on the new property. My concern is, even with the ...

    • DaVibe
    • Mar 3rd, 2020 7:29 pm
    • Forum: Real Estate

  • Should I sell or refinance my current home and turn it into a rental?

    ... remaining. Bought a new construction detached home that is closing in April for 1.05 million with 90k already downpayment. I have 3 options: 1) Refinance the current home and turn it into a rental property. Its close to a Go-station and good neighborhood. Assuming the value to be 750k I could ...

    • mb7057
    • Jan 7th, 2020 5:59 pm
    • Forum: Real Estate

  • Refinance or Home equity LOC..which is better?

    ... on calculation i have equity on home around 60k. Now i am thinking about buying bigger home but not sure which option will give maximum leverage...refinance or HELOC? I am not planning to sell old house. I am thinking about keeping it on rent.I will be cash flow positive of $300-$400 on that property ...

    • bhushh009
    • Nov 23rd, 2019 9:05 am
    • Forum: Real Estate

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