Mortgage Refinancing

Refinance your mortgage and shop for the lowest rates with one application

Regardless if you are a prime borrower with excellent credit or a self-employed individual with credit challenges, we can help you explore your options with all of the major mortgage lenders with one application and get the most competitive offers on the market.

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or call 1-888-360-1104

360Lending is an award-winning digital mortgage brokerage

See why thousands of Canadians rely on our mortgage advice and services

Learning Centre

How does mortgage refinancing work in Canada?

Mortgage refinancing is the process of replacing your current mortgage with a new one, often to get a better interest rate, lower monthly payments, or access equity in your home.

Benefits of refinancing your mortgage with 360Lending

1
Access to all major lenders with 1 application
Get the most competitive offers on the market and simplify the approval process with our easy-to-use application.
2
Save up to 50% on your interest payments
Improve your cash flow with a significantly lower monthly payment compared to credit cards and personal loans.
3
Customization beyond rates
Change your payment frequency, term, and/or amortization to suit your needs.

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Approved amount $480,000
Previous mortgage $430,000
Increased amortization to 30 Yearsto reduce payments

Case Study: Explore All Your Options

Andrew and Erin bought their house when they got married almost 5 years ago and their mortgage is coming up for renewal. Andrew is an accountant with good credit and low debt-to-income ratios. Erin is a self-employed web designer and she tends to write off a lot of her expenses.

The couple has a $430,000 mortgage, and they want to refinance to get $50,000 for renovations but they are concerned about their cash flow. The major banks could not approve the amount they wanted because Erin's taxable income was too low.

How 360Lending helped the couple explore their options

Andrew was able to provide his T4s for the past 2 years as well as two recent pay stubs. We advised Erin that outside of the major Canadian banks, there are financial institutions that use non-traditional documents as proof of income.
Our team requested 12 months of business bank statements from Erin and a couple of recent invoices to match her deposits.
We also determined how much her expenses were to find out how much her net operating income was for the past year.

Results

Andrew and Erin's refinancing was approved after being declined by the major banks. We also increased their amortization from 25 years to 30 years to lower their monthly payment. The couple invested $50,000 into their renovation project and Erin continued to enjoy the tax benefits of being self-employed.