Refinancing FAQs

You provide all necessary documents to your mortgage professional.

Your mortgage instructions are then sent to our office by your new lender. 

Once we receive your instructions, we will open a file and contact you by email to let you know what documents we will require from you to complete your refinance and to arrange for an appointment for you to come in and sign all documents relating to your new mortgage. 

You should bring the following to our meeting:

TWO (2) forms of Identification: 

Valid Government Issued Photo Identification e.g., Passport/ Driver’s License. 

Other accepted types of identification are birth certificate signed credit card,SIN card however these requirements may vary by lender. 

*You must provide at least ONE (1) form of photo identification listed above. Please note that Manitoba Health Cards are not accepted as a valid form of Identification by most lenders. 

A personalized void cheque or branch-stamped PAD form

A copy of your home insurance showing your new lender as the loss payable. Alternatively have your Insurance Broker contact our office and we can assist them in revising your insurance policy to add the new lender as a loss payable

Current copies of statements for any debts your lender requires that we pay out as part of this process

Please Note: In the event you are unable to bring any items on this list, they may be provided at a later date.

All borrowers (and guarantors) on the new mortgage are required to sign the mortgage documents at our office. Anyone who is not going on the new mortgage but is currently on title would be required to attend our meeting and sign a few documents as well.

The length of time varies from lender to lender. Typically the average time is approximately five (5) business days from the point at which you have signed all documents, provided your revised home insurance documents, and we have received a current statement for your existing mortgage from your previous lender as well as current statements for any debts your lender requires that our office pay out.

When we receive the funds from your new lender, we will pay out your existing mortgage and any other debts your lender requires our office to pay out directly. In some cases we are required to pay out your property taxes to bring them current. Once your mortgage and any debts (if applicable) have been paid out we will direct deposit funds into your account after deducting our statement of account. 

Please note the above information is of a general nature ONLY and is not in-depth of all possible legal rights or remedies. These answers are not intended to provide legal advice or opinion. You should seek specific legal advice for your particular situation.