Refinance to lower your payment,
consolidate debt, or unlock equity.
Refinancing replaces your current mortgage with a new one — up to 80% of your home's value. Use it to cut your rate, roll high-interest debt into one payment, or pull out cash. We also refinance when the banks say no.
🏠 How Much Equity Could You Unlock?
Estimates only. Actual amount depends on equity, property appraisal and lender.
- ✓Refinancing replaces your existing mortgage with a new one — up to 80% of your home's value.
- ✓The #1 reason our clients refinance: roll 19–29% credit-card debt into one low monthly payment.
- ✓We arrange refinances through B-lenders and private lenders when the bank declines on credit or income.
- ✓Watch the costs: a prepayment penalty (3 months' interest or IRD), legal fees, and an appraisal ($300–500).
Banks decline refinances
over credit. We don't.
A refinance is the most powerful way to consolidate debt and lower your payment — but banks reject borrowers over a soft credit file or self-employed income. We shop 50+ lenders, including B and private, to get it approved.
- Consolidate high-interest debtRoll cards and loans into one low mortgage payment
- Bruised credit & past arrears OKB and private lenders approve on equity
- Self-employed & variable incomeNo two-year T4 requirement with alternative lenders
- Up to 80% of your home's valuePull out cash for any purpose
Unlock Your Equity.
One new mortgage.
A fresh financial start.
Refinancing isn't just about chasing a lower rate. Here are the most common reasons Canadian homeowners refinance with CreditReboot.
Consolidate Debt
Fold cards, loans and lines into your mortgage at a fraction of the interest.
Avg. saved: $1,000+/moLower Your Rate
If rates or your situation have improved, a new mortgage can cut your payment.
Payment reliefCash-Out Equity
Access up to 80% of your home's value as a lump sum for any purpose.
Up to 80% LTVClear Tax Arrears
Wrap CRA or property-tax debt into your mortgage before enforcement.
Equity-basedChange Your Terms
Switch from variable to fixed, or restructure for breathing room.
FlexibleRefinance vs HELOC vs Second Mortgage
Refinancing is one of three ways to tap equity. Here's when each makes the most sense.
| Feature | Refinance (CreditReboot) ✓ Recommended | HELOC | Second Mortgage | Personal Loan |
|---|---|---|---|---|
| Replaces 1st Mortgage | Yes | ✓ No | ✓ No | N/A |
| Best For | Lower rate / big consolidation | Flexible access | Keep low 1st rate | Small amounts |
| Breaks Current Mortgage | ⚬ Yes (penalty) | ✓ No | ✓ No | ✓ N/A |
| Max LTV | 80% | 65–80% | 80% | N/A |
| Bad-Credit Path | ✓ B / private | ⚬ B / private | ✓ Private | ⚬ Limited |
| Typical Rate | Lowest of the three | Prime + 0.5–2% | Higher | 9.99–19.99% |
How much equity could you unlock?
Slide the numbers to estimate the cash a refinance could free up from your home.
The Digital CreditReboot Process
No branch visits. No waiting in line. No unnecessary paperwork. Just a simple digital process from start to funded.
Pre-Approval
Fill out the form, speak to a licensed CreditReboot broker, and get your personalized quote — usually within 24 hours. No credit check at this stage.
Application & Approval
We shop your deal across 50+ private and alternative lenders and present you with your best approval to choose from.
Funding
Sign the broker documents, complete the legal paperwork with a lawyer or notary, and receive your funds — typically within 3–5 business days.
Trusted by homeowners
across Canada
Real Google reviews from homeowners in Ontario and Alberta who worked with CreditReboot.
"They were able to help me with a second mortgage based on equity without any income requirements and lowered my monthly payment by helping me consolidate credit card debt. I highly recommend them."
"I was in a total bind looking to get financing against my property in Alberta. Parm gave me options even after letdowns from the banks, and worked tirelessly to find me a lender. By far the best I've worked with in a difficult situation."
"Our bank wasn't helping with refinancing. Parm gave us step-by-step insight on every detail, answered every question, and was always available. If you need help refinancing, look no further than CreditReboot."
Get your free refinance & penalty analysis
Free eligibility check. No impact on your credit score. Licensed brokers ready to call you today.
Apply in 60 Seconds →Mortgage Refinance Rates in Canada (August 2026)
As of August 2026, a B-lender refinance starts at 4.99%–5.99% on the first mortgage, with flexible income documentation and recent credit damage accepted. Where a full refinance does not fit, a B-lender second or HELOC runs 7.99%–11.99%, and private money 7%–9% in first position or 9%–14% in second. Mortgage refinance rates follow the file — equity, income, property — not the bank’s posted board.
| Option | Typical Rate (August 2026) |
|---|---|
| B-lender refinance (first mortgage) | from 4.99%–5.99% |
| B-lender second mortgage / HELOC | 7.99%–11.99% |
| Private first mortgage | 7%–9% |
| Private second mortgage | 9%–14% |
Every quote is written and itemised — rate, fees, legal — before you decide anything.
Mortgage Renewal vs. Refinance: Which Saves More?
The difference between mortgage renewal and refinance is leverage. Renewing keeps your current lender: no new qualification while the mortgage is in good standing, but you take the rate you are offered, and you cannot pull equity or consolidate debt at the same time. A refinance re-opens everything — rate, amount, amortisation, lender. Whether to renew or refinance your mortgage comes down to three numbers: the penalty (zero at renewal), the rate gap, and what the freed-up equity would do for you. We put renewal vs refinance side by side on every file, in dollars, before you choose.
Cash-Out Refinance in Canada (August 2026)
A cash out refinance in Canada replaces your existing mortgage with a larger one — up to 80% of the home’s value — and pays the difference out in cash at closing. It is at its best at renewal, when there is no penalty to break anything. Mid-term, we price the cash-out against a second mortgage so the prepayment penalty never eats the benefit — sometimes the refinance wins, sometimes the second does, and the arithmetic decides.
Run your own numbers
- Refinance vs. Second Mortgage Calculator — price the prepayment penalty before you decide
- Renewal Payment Shock Calculator — see what your payment becomes at renewal
Related reading
- Cash-out refinancing in Ontario — accessing equity at renewal
- Refinance vs second mortgage — which one costs less
- Refinance vs second mortgage in Alberta — running both sets of numbers
- Refinancing after late payments — what recent lates do to your options
- When the bank declines your refinance — finding the real reason in Ontario
Common questions
Answers to the questions we hear most from homeowners in Ontario, Alberta, and Saskatchewan.