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   Home > Mortgages > Financing Options > Mortgage Refinancing

Mortgage Refinancing

Your home can be a source of extra financing to help meet your goals, whether you want to renovate or repair your home or help pay your child's college or university tuition.

Refinancing your mortgage* can be advantageous, particularly if you're planning a major renovation. You may be able to borrow up to 90% of the value of your home, less the outstanding balance of any existing mortgage.

Other Options for Extra Financing

Personal Loan
An installment loan that lets you know exactly how much your payments are going to be over a fixed period of time.

Personal Line of Credit
A good option if you're a new homeowner and haven't had time to build up equity in your home.

Homeowner's Line of Credit
If you have accumulated equity in your home, the Homeowner's Line of Credit may be the right option for you, and at a variable interest rate, it is generally our lowest personal loan rate available.

Home Equity Loan Plan
To borrow a larger amount of money for major home renovations, use the equity in your home with this fixed rate instalment loan.


*Bank of Montreal's usual credit criteria must be met.


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