Mortgage Refinance Calculator
Estimate how much equity you can access and what your new monthly payment will be when refinancing your Ontario home. The calculator applies the standard Canadian 80% loan-to-value cap.
HB Mortgage Centre has helped Ontario homeowners access equity and secure better rates through 50+ lenders since 2021.
Estimate your refinance options
Extra equity you want to access. Leave at 0 if just refinancing the existing balance.
Estimate
Available equity (to 80% LTV)
$240,000
Maximum borrowing (80%)
$640,000
New principal
$400,000
New monthly payment
$2,326.42
New loan-to-value
50.0%
Estimate only. Uses Canadian semi-annual compounding. Refinancing requires lender approval and appraisal. Prepayment penalties may apply. Not an offer or approval.
Estimate only. Not an offer or approval. Requires lender qualification and appraisal. Prepayment penalties may apply.
How refinancing works in Canada
When you refinance, you replace your current mortgage with a new one — typically to access equity, get a better rate, or change your amortization.