Refinancing

Ability to move an existing mortgage to a new property, subject to lender rules and timing.

Mortgage restructuring that changes balance, amortization, or equity access rather than simply renewing the term.

Process of choosing new mortgage terms at maturity, either with the current lender or a switch.

Canadian renewal, switch, refinance, porting, HELOC, and home-equity borrowing terms.

Lender proposal for the next term that should be compared rather than accepted blindly.

Transfer of a mortgage to a new lender without the full balance-and-purpose changes of a refinance.

Early renewal option that combines an old rate and current market rate into a new longer term.

Combined mortgage and revolving-credit structure that reopens borrowing room as principal is repaid.

Additional loan registered behind the first mortgage, often at higher cost and risk.