Sitting on equity? · Toronto
Your equity has options. Some cost far less than others.
A refinance, a HELOC and a second mortgage all reach the same equity, and they price and behave very differently. Rafee structures the one that fits what you're using the money for.
- Refinance, HELOC or second
- Penalty modelled before you commit
- Free positioning review
Ontario-licensed · #M25002512. Rafee compares your file across 50+ lenders through Perch Mortgage, covering A, Alt-A and private options. It costs nothing to talk and there's no obligation to move.
Structure over speed
Accessing equity is a structuring decision, not a product pick
The right instrument depends on the timeline, the amount and what happens to the payment afterwards.
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01
Breaking mid-term has a price
Refinancing before your term ends triggers a prepayment penalty. It's calculable in advance, and it belongs in the decision rather than in a surprise at signing.
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02
A HELOC and a refinance are not interchangeable
A HELOC gives you revolving access at a variable cost. A refinance resets the whole mortgage at a fixed structure. Which one wins depends on how you will actually use it.
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03
The term you land on outlives the rate
Prepayment privileges, portability and penalty structure follow you for the whole term. They are worth as much attention as the number on the front page.
What's behind the advice
- 50+ Lenders accessible via Perch
- $48M+ Mortgage volume reviewed and structured
- 320+ Files across A, Alt-A and private lending
- 0 Credit pulls needed to get a first number
Serving Toronto, Mississauga, Brampton and across Ontario.
Before you book: good to know
How much equity can I access? Conventional refinancing is generally limited to 80% of your home value, and the specific figure depends on your property, your income and the lender. Rafee can model it before anything is submitted.
What penalty will I pay to break my current term? It depends on your lender and on whether you're in a fixed or variable term. It's a calculated figure rather than an estimate, and you should see it before deciding whether refinancing is worth it.
Is it better to wait for my renewal? Sometimes. If your renewal is close, waiting avoids a penalty entirely. If the need is now, the penalty may still be worth paying. That comparison is the actual work.
Rafee Syed, Mortgage Agent (Level 1), licence #M25002512, brokering through Perch Mortgage, licensed by the Financial Services Regulatory Authority of Ontario (FSRA). Rates, terms and approvals vary by lender and by applicant, and change without notice. Any rate or term you see quoted here is confirmed directly with Rafee and the lender before it means anything. Nothing here is financial or legal advice.
Reserve your spot, then pick a time
Leave your details and we'll hold your spot, then you go straight to the booking page to pick a time that suits you.
- 50+ lenders accessible via Perch
- $48M+ mortgage volume reviewed and structured
- 320+ files across A, Alt-A and private lending
- 0 credit pulls needed to get a first number
Prefer to talk? Call 416-524-9527.
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