In Canada, mortgage lenders take into account many factors before offering you a loan, but your income is only one of those factors. In addition, they’ll look to your credit score to see how you’ve managed debt in the past, your debt-to-service ratio (basically your ability to pay the loan), and the type of mortgage and length you want. We encourage you to complete our no-obligation form and find out if you qualify.

There are plenty of strong reasons why you might want to take equity out of your home in the form of a mortgage or home equity line of credit. Some possible use cases include medical expenses, debt consolidation, financing a renovation, or even investing in another property.

It depends on your current interest rate and the advantages you can achieve by refinancing, such as switching to a fixed rate mortgage for lower risk, getting a better interest rate, and turning equity into cash. Contact us directly with your situation and we’ll give you all the knowledge needed to make an informed decision.