FairChoice helps Toronto and North York homeowners understand exactly when refinancing makes sense — and what it costs — before any paperwork starts.
Get a Free Refinance Review Watch the ExplainerA clear, unbiased overview of how mortgage refinancing works and when it makes sense for Canadian homeowners.
Roll high-interest credit card balances, car loans, and lines of credit into one lower monthly payment. Done properly, this reduces what you owe faster while easing your monthly budget at the same time.
Your home has grown in value — a refinance lets you put that equity to work for renovations, investments, education, or family needs, without selling.
Extending the amortization or securing a better rate can meaningfully reduce your monthly number — creating cash flow room for the life you're building right now.
The major banks often struggle with non-traditional income structures. FairChoice works with lenders who understand commission, contract, and incorporated income — and can find a refinance that works for your file.
FairChoice guides every refinance from the first conversation to the final signature — no surprises, no pressure.
Tell us your situation — current mortgage, debts, goals, income structure. We'll map what a refinance could look like for your file before you commit to anything.
We'll walk you through exactly what's needed — income verification, property info, current mortgage details. We handle the application on your behalf.
We shop your file across 20+ lenders — banks, credit unions, and alternative lenders — and present the options that actually fit your goals, not just the easiest approval.
Once you've chosen the option that fits, we coordinate with the lender and your lawyer to close the refinance smoothly — and explain every number before you sign.
Refinancing isn't free — and FairChoice will never pretend otherwise. Here's what to factor in before deciding if it makes sense for you.
If you're breaking your current mortgage term early, your lender may charge a prepayment penalty — typically 3 months interest or the IRD (Interest Rate Differential), whichever is greater. FairChoice calculates this against your projected savings before recommending a refinance.
A lawyer is required to register the new mortgage — typically $800–$1,500 in Ontario. An appraisal may also be required to confirm current property value, usually $300–$500. These are standard costs across every lender.
FairChoice runs a break-even calculation for every refinance — how many months until your monthly savings exceed your upfront costs. If the math doesn't work for your timeline, we'll tell you.
We don't recommend a refinance unless the numbers support it for your situation. If staying put or waiting for renewal makes more sense, that's what we'll say — even if it means no deal for us.
"Collette and Sean were very professional and guided us through the mortgage refinance with great expertise, answered all our questions in a thoughtful and timely way, leading to a smooth process and a positive outcome."
"It was an absolute pleasure working with Collette and his team. The level of communication and punctuality was superb. They were very hardworking and straightforward throughout the entire mortgage process."
"Been doing business with Collette & Sean for about 2 years now. Very helpful, quick, efficient and polite. I direct friends and family to FairChoice for all mortgage needs."
Tell FairChoice your situation and we'll give you an honest answer — not a sales pitch.