Region served
To refinance in Rive-Nord: 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.
A document has to be recent, readable and consistent with the rest of the file. A statement with a page missing, or a name spelled differently than on your notice of assessment, and a Rive-Nord file goes back for clarification.
Names, dates, balances, where the money came from: everything has to match from one document to the next. An unexplained deposit is the most common reason a Rive-Nord file stalls at the verification stage.
An unusual amount, a missing page, two statements that do not agree: the lender will ask, so answer before it does. A gift, a bonus or a transfer between your own accounts goes through fine once it is documented, in Rive-Nord as anywhere.
The lender’s calendar, the insurer’s and the notary’s all have to mesh. It is nearly always the last link that hands in its confirmation after the condition has 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.