How to Refinance Your Mortgage

Consolidating high-interest debt, funding renovations, investing or freeing up cash for a family project.

Break penalty if you refinance mid-term, appraisal, notary and discharge fees. The math must always weigh those costs against the savings.

As a general rule, a mortgage refinance is limited to 80% of your property's market value. This limit comes from the federal rules that apply to conventional mortgages.

If you need additional funds, other solutions may be considered depending on your situation, such as a second mortgage or other forms of financing. A home equity line of credit (HELOC) is also subject to regulatory limits and does not automatically allow you to exceed the overall 80% threshold.