Region served
To refinance in Bas-Saint-Laurent: mortgage statement, penalty in writing, tax bill, notices of assessment. The real penalty often differs from the phone estimate.
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.
The document must be current, readable and consistent with the rest of the file. A statement with a missing page, or a name spelled differently than on your notice of assessment, sends the file back for clarification.
Everything has to agree across documents: names, dates, balances, where the money came from. The number one cause of a stalled verification? A deposit nobody can explain.
An odd amount, a missing page, two records that disagree: the lender will ask. Explain them up front. A gift, a bonus or a transfer between your own accounts is perfectly fine once documented.
The lender’s calendar, the insurer’s and the notary’s all have to line up. Most of the time it’s the last link that sends its confirmation after the condition has already expired.
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.