Real Estate
Mortgage Refinancing

Refinancing your mortgage opens doors to new financial opportunities, which might have not been there before. We work closely with you create that opportunity, whether you are pulling out equity for investments, consolidating debt, or upgrading your mortgage terms.

Mortgage refinancing allows for a financial fresh start, and an opportunity to create a responsible financial plan for the future. There are several reasons you might be looking into refinancing your mortgage:

  • Switching lenders (i.e. private mortgagees, banks or trust companies), so you can take advantage of a better mortgage rate and terms;
  • Consolidating multiple credit cards or lines of credit with high interest. These debts can be paid out using mortgage funds, while taking advantage of the lower interest rate and better terms;
  • Consolidating multiple mortgages or home equity lines of credit into one, so as to make payments to only one debt and make repayment more convenient;
  • Needing funds to buyout a former spouse’s share in the house. This may be part of a separation or divorce process;
  • Paying out an existing mortgage or home equity line of credit with the funds from a new lender;
  • Pulling out equity from the property for personal use.

As part of the process, we prepare all legal documents, review paperwork with you, and answer all your questions. These transactions are often time sensitive, and must be completed without delays. We always keep all parties informed throughout the process, including yourself, your mortgage broker, and lender. This ongoing communication ensures a smooth process.

We arrange a timely receipt of mortgage funds, and a timely payout of existing debts, so your net funds are available to you as soon as possible. We will also work with you to remove your prior mortgage from your title and help pay off any other debts, such as credit cards and lines of credit.

If you are refinancing due to a separation process, we cooperate with your family lawyer and keep your best interests in mind.

Our goal is to make this process as smooth and predictable as possible. We are one of the few firms in Calgary offering flat rates for standard transactions. Our pricing is published on our website, so you always know what to expect.


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How It Works
  1. Once you’ve found a mortgage lender, whether by yourself or through a mortgage broker, we will step in to start preparing the paperwork.
  2. We will send out a questionnaire to help you prepare all the initial required information and documents to draft up the paperwork. At this time we will also communicate with your existing mortgage lender and other creditors to facilitate payments of existing debts.
  3. You will meet with our lawyer who will take you through all the paperwork, explain the numbers, and answer all your questions.
  4. We will then receive the mortgage proceeds from your new mortgage, and coordinate with all other parties involved, such as your existing mortgage lender, and other creditors to distribute funds appropriately. We will pay your existing debts to your existing mortgage lender and other creditors, and return the balance of the new mortgage proceeds to you.
  5. Your lawyer will register your new mortgage on title and remove all paid out mortgages from the title. After this step, you will be set for a new financial beginning.
  6. Later on, we will send you a new title.
Fees
Mortgage Refinancing
Under $200,000 $949
$200,001-$400,000 $1045
$400,001-$600,000 $1145
$600,001-$800,000 $1245
$800,001-$1 million $1395

This includes all regular disbursements for one title and one mortgage (such as courier charges within Calgary, file administration, one payout, and land title fees to register one new mortgage and one discharge of previous mortgage. If required, costs of fees status certificate, additional searches, estoppel certificate, real property report, assignment of rents for rental property and additional couriers will be added. Rush fee will be added if we receive the documents 7 business days before closing. GST will be charged additionally.

Contact
Anna Dunaeva DLegal
Lawyer & Notary
Anna Dunaeva

Anna perpetually works to surpass her clients' expectations. Through continuous communication, Anna delivers on her commitment to keep clients at the centre of her practice.

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