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Refinancing your mortgage

Tap your home's equity to finance a large purchase

Apply for refinancing

What is mortgage refinancing?

Refinancing your mortgage means borrowing based on the net worth of your home—the difference between its current market value and the remaining balance on your mortgage.

By refinancing your home, you can borrow up to 80% of its estimated value and enjoy a new source of credit to finance your projects.

Perfect if you are looking to:

  • Renovate your home
  • Buy a second home, car or other big-ticket item
  • Finance your child's education

3 ways to refinance your mortgage

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Opt for a home equity line of credit

You can convert your mortgage into an All-In-One™ line of credit. You'll be able to access the funds you repay,1 so you won't have to resubmit an application every time you need more credit, whether for renovations or any other major expense.

We also offer one of the lowest interest rates on the market, so why not consolidate your debt (like credit card balances) and save on interest?

See the All-In-One
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Choose a fixed or variable rate

Applying for refinancing is a good time to take stock of your finances. If you opt for a mortgage loan1 and want to protect yourself against interest rate fluctuations, choose a fixed-rate loan. This guarantees your rate throughout the term and allows you to make equal monthly payments to simplify your budgeting.

If you've got some leeway in your budget, why not opt for a variable rate—you could save on interest if rates drop.

See our mortgage loans
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Young woman holding a cup of coffee looks at a computer screen with a man sitting next to her
Young woman holding a cup of coffee looks at a computer screen with a man sitting next to her
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Quick tip

You can refinance your mortgage at National Bank, even if it was originally granted by another financial institution.

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Leveraging your home's equity

With a revolving mortgage, you're free to use any available credit for your financial needs,2 without paying legal fees. It's like getting a personal loan, but at a much lower rate.

You decide the amortization period and term of each portion used and also have the option of prepaying the loan without penalty. Contact an advisor to learn more.

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Tip

Interested in renegotiating your mortgage? Why not update your mortgage insurance at the same time?3

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Legal disclaimers

TM All-In-One is a trademark of National Bank of Canada.

1. Subject to credit approval by National Bank of Canada. Certain conditions apply.

2. National Bank offers revolving mortgages. Certain conditions apply when funds are used by holders of a loan insured by the Canada Mortgage and Housing Corporation (CMHC) or Genworth. A revolving mortgage cannot be used to finance more than 80% of the value of the home.

3. Certain conditions apply.

Learn more about refinancing

Ready to refinance your mortgage?

It’s as easy as filling out a form!

Apply for refinancing

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