REFINANCE

Refinancing your mortgage is the process in which you can modify the terms of your original loan agreement by withdrawing equity and rewriting the loan. The old mortgage is paid out and replaced with a new mortgage.  Refinancing is a good option to pull out equity for consolidating debt, home improvements, investments, college expenses, and more.

Home Refinance Steps:

  • Step 1: Speak with us about your plan and what options are available

  • Step 2: Submit your application including submitting all documents required 

  • Step 3: Order payout statement and an appraisal from the current lender

  • Step 4: Once your mortgage is approved, complete all outstanding conditions ASAP

  • Step 5: Contact the home insurance company to change home insurance to match your new lender.  Tip: combining home & auto may qualify you for discounts. 

  • Step 6: Finalize mortgage details based on appraisal adjustment and payout statement from your current lender (if applicable).

  • Step 7: Once your mortgage is final approved, sign the title and legal documents and pay any shortfalls and/or fees with your lawyer or an FCT agent.

  • Step 8: On the funding date, all funds will be advanced, and the mortgage transaction will complete.

Whether you are refinancing for the first time or are an experienced mortgage holder with excellent credit, Dominion Lending Centres have access to the very best products and rates available across Canada. Give us a call… we think you’ll be pleasantly surprised!

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Belmead Professional Building | #219, 8944-182 Street, Edmonton, AB T5T 2E3

780.288.7399