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Refinance Mortgage
Calculator Canada

Have interest rates dropped and now you're left wondering if you should refinance your mortgage? There are many benefits to refinancing your current mortgage especially when it means saving more money on your monthly payments.
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Check Out Our Mortgage Refinance Calculator

Want to know exactly what you'd owe to exit your mortgage contract early and replace it with a new one? Use our free mortgage refinance calculator to plan ahead and put your finances in order.

We Make Mortgage
Refinancing Easy

We Make Mortgage Refinancing Easy Refinancing your mortgage can come with many benefits, but many people don't know how to navigate through this process alone. That's where our expert mortgage broker comes in. Jivan Sanghera has been selling mortgages for over 10 years and is committed to providing customers with the best solution for them. You don't have to navigate through the mortgage refinance world yourself. Circle Mortgage Group is here to explain every step of the process to you, answer any of your questions, and also find you the best mortgage rate around.

The Benefits Of Refinancing Your Mortgage

Leaving your current mortgage early can be a great decision for you and your family and here's why:

Lower Interest Rate

One of the main reasons homeowners start looking into exiting their current mortgage contract is because of the interest rate differential - the difference between your original mortgage interest rate and the new rate the mortgage lender can charge you for your new mortgage term.

Lower Monthly Mortgage Payments

Ultimately, because of lower interest rates, this leads to a lower monthly mortgage payment requirement. Even the slightest change in rates can make a huge difference to your monthly payment, resulting in large potential savings.

Change Your Current Mortgage Type

If you've had a variable-rate mortgage, now may be a good time to think about switching to having a fixed-rate mortgage. While this can come with risks, if interest rates are lower than ever before, you can lock your remaining term in and continue to pay lower monthly amounts until your renewal period, or until the date you've set otherwise.

Consolidate Your Debt

If you have at least 20% equity in your home, you can exchange your existing mortgage for a larger loan and receive the difference in cash to help you consolidate debt like paying off credit cards, car loan, student loans, etc.

What Does It Cost To
Refinance Mortgages?

Because you're exiting a contract you agreed to early, and if you're switching mortgage lenders, there will be prepayment penalties. This is why it's best to consult with mortgage brokers who know the ins and outs of refinancing and what you can realistically afford.

There will be a mortgage prepayment penalty if you're leaving before the renewal date. The mortgage penalty amount will vary per lender and will depend on the type of mortgage you have. For example, closed mortgages will often charge three months' worth of interest. You will also have to pay to switch to a new lender, and for legal fees.
Couple - Refinancing Mortgage Ontario | Circle Mortage Group

Allow Circle Mortgage Group To Help
You Refinance Your Mortgage Today

We know this is a lot to take in, but there are a lot of benefits that come with choosing to refinance your mortgage and we will gladly go over them with you today. Take control of your financial situation by consolidating debt and improving your interest savings. We also have an array of other mortgage calculators that are free to use so you can make the best home-buying decisions for you and your family.
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