Winnipeg mortgage refinancing
What could
refinancing
free up for you?
Pay off higher-interest debt, bring your monthly payment down or fund a renovation. A licensed CENTUM® mortgage professional with access to over 50 lenders shows you the numbers first, penalty included.
“… remarkably fast in his communications and dedication in guiding us through all of the steps and hurdles required.”
- Licensed mortgage professionals
- Access to over 50 lenders
- A reply the same business day
- No obligation
Pick your goal
Four ways refinancing can help
Pay off higher-interest debt
Roll credit cards, a car loan or a line of credit into your mortgage and make one payment instead of several.
- Borrowing against your home usually comes with a lower rate than other loans
- One payment date to remember
- Works best with a plan to keep the cards paid off
Spreading debt over a mortgage can mean more interest in total. We show you both figures.
Start with this goal
Lower your monthly payment
A lower rate, a longer amortization, or both, can bring the payment down and give your budget some room.
- Your new payment next to today's
- The penalty to break your mortgage, worked out first
- Quotes from more than one lender
A longer amortization lowers the payment but means paying interest for longer.
Start with this goal
Renovate or add a suite
Use the equity you've built. You can usually borrow up to 80% of your home's appraised value, minus what you owe.
- Kitchens, basements, roofs and bigger projects
- Adding a self-contained suite? A federal program allows insured refinancing up to 90%
- The payment planned before the work starts
The suite program applies to homes worth under $2 million once improved, and its rules can change.
Start with this goal
Not sure yet
Renewal coming up, income changed, or just curious what your equity could do? Tell us where things stand.
- Refinancing, waiting for renewal and staying put, compared
- No documents needed to start
- No obligation to go ahead
If your renewal is close, waiting can avoid a penalty. We'll tell you if that's the better move.
Talk it throughTry your numbers
How much of your home's value could you use?
Lenders usually let you borrow up to 80% of your home's value. Take away what you still owe, and the rest is roughly what a refinance could free up.
You could free up about
$110,000
Not enough equity to borrow more right now. A lower rate or a longer amortization may still bring your payment down.
A rough guide, before your penalty and closing costs. The appraisal, your income and the lender's approval set the real figure.
Get my exact numbersRefinancing, explained in about a minute
What a refinance is, how much you can usually borrow, and what to compare before you switch.
Play the video: refinancing, explained in about a minute 
Problems a refinance can solve
- Credit card balances that won't go down
- A monthly payment that's stretching your budget
- A car loan or line of credit at a higher rate
- A renovation or basement suite you keep putting off
- A big expense coming up, like tuition
- Not knowing if breaking your mortgage is worth the penalty
Why CENTUM®
One conversation, more than 50 lenders
Better for you
CENTUM® broker
50+lenders compared for you
- Works for you, not the lender
- Shops the lenders for you, banks included
- If one lender says no, tries another
- Every option side by side, in one conversation
One bank
1lender's products
- Works for the bank
- You shop around yourself
- If it says no, you start over elsewhere
- Only its own mortgage products
“Even when I tried other brokers and banks she was able to offer a much better deal and terms and get the deal approved.”
- 25+ yearsserving Canadians
- 15,000+ Canadianschoose CENTUM® each year
- Same business dayreply to your request
What CENTUM® clients say
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“Adrian helped us in so many ways with our mortgage. … We would highly recommend him for anyone seeking financial assistance.”
Kevin LoewenWinnipeg
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“Radu was a godsent and he resolved our situation in a very timely and effective manner, bringing us peace of mind in these very troubling economic times.”
Crina Cretu
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“He makes sure that he understands your needs and process them accordingly. … You wont ever feel lost in the application process.”
Nat Du
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“Extremely responsive and followed up the day after closing to make sure everything was ok. … Would recommend to anyone needing a mortgage.”
Cyndi Jenkins
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“We have used them twice and they have done everything to make our experience as painless as possible. … They know the business end to get you the best, but will treat you like family.”
Christine H.
Three steps, then you decide
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Tell us your goal
Pick what refinancing should do and where to send your options. No documents yet.
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A reply the same business day
A licensed mortgage professional replies by email, or by phone if you add one.
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Compare your numbers
Your penalty, costs and new payment from more than one lender. No obligation.
How much can I borrow when I refinance?
Usually up to 80% of your home's appraised value, minus what you still owe. On a $450,000 home with $250,000 left on the mortgage, that's about $110,000 before costs.
What does it cost to break my mortgage early?
Lenders typically charge the larger of 3 months' interest or the interest rate differential (IRD). Add appraisal, legal and title costs. We work all of it out before you decide.
Should I refinance now or wait until my renewal?
If your renewal is close, waiting often makes sense because there's usually no penalty then. If you need the money now, or the penalty is small next to the savings, refinancing mid-term can still come out ahead.
Do I have to pass the stress test?
Usually, yes. Federally regulated lenders qualify you at the higher of your contract rate plus 2% or 5.25%.
Does my spouse have to sign in Manitoba?
If it's your family home and only one of you owns it, yes. Manitoba's Homesteads Act requires the other spouse or common-law partner to consent in writing before the home is mortgaged.
Who will contact me, and when?
A licensed CENTUM® mortgage professional who handles Manitoba mortgages, the same business day.
See what refinancing could free up for you
Two short steps and a reply the same business day.
Get my numbers