Region served
How much equity you can take out of a property in Lanaudière, what the penalty costs to get there, and whether it still makes sense after fees.
A refinance tops out at 80% of the value, and the lender’s appraisal settles it, not the price you paid or what the neighbour sold for. If you break the current term, the penalty goes into the calculation. It often decides whether the move is worth making.
Your mortgage statement with the balance and estimated penalty, the tax bill, your notices of assessment, the list of debts you plan to pay off. Get the penalty from your current lender in writing. The real figure often differs from what they quote over the phone.
Your offer is only as good as the appraisal. Where few comparable sales exist in Lanaudière, the appraiser can come in under the price you agreed to, and you cover the difference in cash. It does not get added to the mortgage.
The lender wants to see enough to work out your monthly budget: proof of income, the source of the down payment, your debts and what is left after the bills. Have them ready before the first call about a Lanaudière file.
Rate is the easy comparison. On a purchase, two offers differ mostly in the penalty to break the term, in how much you can prepay each year and in whether the mortgage moves with you to the next home.
A complete file the first time avoids the back-and-forth that adds weeks. It is almost never the analysis that drags on a Lanaudière file. Somebody is waiting on an employer, a bank or an appraiser.
To prepare
Yes. It all runs by phone, email or video call, and documents go through online. We can meet in person, but most files get settled without anyone having to travel.
Up to 80% of the property’s value, as the lender’s appraisal sees it, not as the price you paid. If you break the current term, the penalty goes into the calculation, and it is often what decides whether the deal is worth doing.
Pick the situation closest to yours.
Contact
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.