It all turns on your ratios once the debts are repaid, not today’s. A tax debt weighs more than a credit card: Revenu Québec and the CRA can register a claim on the property, and most lenders require it to be paid out of the refinance.
Documents before comparison
A list of your debts with exact balances and payments, your latest mortgage statements, and your notices of assessment. If there’s a tax debt, request the official statement of account. It’s the only figure the lender will use.
Maturity date
Start comparing four to six months before maturity. Most lenders will hold a rate that long, and switching at maturity carries no penalty. Your leverage vanishes the day you sign the renewal notice sitting in your Longueuil mailbox.
Current offer
The renewal notice your bank mails you is a starting point, not its best rate. One competing quote gives you something to negotiate with, and lenders in the Longueuil market do compete for a file that already pays on time.
Documents required in Longueuil
Switching lenders in Longueuil may mean new proof of income, a mortgage statement, tax records and a property appraisal.
Plans to consider
A sale, renovations or a lump-sum payment in the next few years should drive the term you pick, not the other way around. Maturity is also the one time you can prepay without a penalty, whatever your plans in Longueuil look like.
To prepare
What to gather.
Current lender offer
Remaining balance
Mortgage penalty
Rates and term options
Payment flexibility
Transfer deadline
Frequently asked
Can the file be reviewed remotely?+
Yes. Phone, email or video call, with documents sent online. We can meet in person if you’d rather, but most files get done without anyone driving anywhere.
Should I pay off my debts before applying?+
Often yes, but not always with your cash. Paying down a card improves your ratios. Emptying your account to do it weakens the down payment. You have to run the numbers on both at once.
Buying, renewing, refinancing, or something a bit out of the ordinary: tell us where you’re at, even if it’s still fuzzy. Mathieu gets back to you with next steps and the documents to pull together.
