Many people across Canada want to change their mortgage to get a better deal at times. This is called refinancing. It could be because they want to get more money out of their home or find a better mortgage plan.

Refinancing can happen anytime during your mortgage or when it's time to renew it. But, if you change banks, you'll need to pay off your old mortgage and get a new one from a different bank. Refinancing may not always be the best idea because there are fees and charges involved. But, there are some situations where it can be really helpful for your money.

Below are a few examples of Mortgage Refinancing...