Mortgage refinance in Alberta
Mortgage refinance in Alberta
Replace your mortgage with a new one to lower your payment, pay off other debts, or use some of the equity you have built up. We compare 50+ lenders and show you whether it actually saves you money once the penalty and fees are counted.
- 180+ Google reviews
- Licensed with RECA
- Approval answers in 12–24 hours
- 50+ lenders compared
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The short answer
A refinance replaces your current mortgage with a new, usually larger, one. Most lenders lend up to 80% of your home’s value on a refinance. If you break your mortgage before its term ends, your lender may charge a penalty, so the math has to work. The review is free, with no obligation.
- Lower payment, or cash from your equity
- Penalty and fees counted before you decide
- Every cost in writing before you sign
Is it right for you?
Sometimes waiting for renewal, or a second mortgage, costs less. We’ll show you the numbers both ways.
A good fit if you…
- own a home in Alberta and have built up equity in it
- want a lower monthly payment, or to pay off high-interest debt
- need money for a renovation, a tax bill or a family expense
- are close to renewal, when there is often no penalty to break
- can qualify with a bank or credit union, or have strong equity if not
Not a good fit if…
- your penalty is larger than the savings. Breaking a fixed mortgage early can cost thousands. We check it first.
- your current rate is much lower than today’s options. A second mortgage or HELOC may let you keep it.
- you would be borrowing close to 80% of your home’s value. Less equity means less cushion.
- the new payment is a stretch. Your home secures the loan.
- you plan to sell soon. Fees and a penalty may not pay off in a short time.
How it works, step by step
1
Free review
Tell us about your home, your mortgage and what you owe. It’s free, with no obligation and no judgment.
2
Quick approval
We compare 50+ banks, credit unions and private lenders. Approval answers typically come back in 12–24 hours, with every cost in writing.
3
Start saving
Your lawyer pays out your old mortgage and any debts you are combining from the new mortgage. You make one new payment.
An example
The same $400,000 balance, a lower payment every month.
Illustrative example
$400,000 left on the mortgage · 25 years to go
Today: current payment
$2,559/mo
Using the refinance calculator’s starting numbers
After: new payment
$2,326/mo
Back in your pocket
$233/mo
What changed
- Mortgage balance
- $400,000
- Monthly payment
- $2,559 → $2,326
- Saved each month
- $233
- Saved each year
- $2,794
Count the penalty. If you break your mortgage before its term ends, your lender may charge a penalty, and there are legal and appraisal costs. We add those up first, so you can see when the savings cover them.
Example only, using the refinance calculator’s starting numbers: a $400,000 balance over 25 years, moving from 6% to 5%. These are estimates you can change in the calculator, not a quote. Your rate depends on your equity, credit, income and property. Subject to lender approval (O.A.C.).
What could you save?
Enter your balance, your current rate and the rate you hope to get.
What it costs
Your rate depends on your situation, not a sticker price. You’ll see every cost in writing before you sign anything.
Your review
$0
- Free, with no obligation
- We look at your mortgage, your debts and your home’s value
- Approval answers typically in 12–24 hours
Bank refinance
Lowest rates available
- For steady income and good credit
- Borrow up to 80% of your home’s value, minus what you owe
- Paid off over up to 30 years, with terms up to 5 years
Second or private mortgage
Higher rate, built for flexibility
- For consumer proposals, CRA debt or when the banks say no
- Usually a 12-month, interest-only term, then renewed or refinanced
- Lender and brokerage fees apply. We show you the exact amounts upfront.
What sets your rate: how much equity you have, your credit, your income, and your property. Before you commit, we give you your exact rate, every fee, your monthly payment and your total cost of borrowing in writing. All mortgages are subject to lender approval (O.A.C.). Licensing and disclosures.
Get your real numbers. Free review, answer in 12–24 hours.
Why homeowners choose MortgageSolvers
6,132
Rates lowered
Homeowners whose mortgage rate we have brought down.
50+
Lenders compared
Banks, credit unions and private lenders, so you don’t have to tell your story ten times.
12–24 hrs
Fast answers
Approval answers typically come back in 12–24 hours, with every cost in writing.
$300–$700
Typical monthly savings
What clients typically save each month on a refinance. Your own numbers come in writing first.
Real homeowners. Real monthly relief.
From 180+ Google reviews by Alberta homeowners.
★★★★★
Great service always available to give you updates look for and willing to give you the best rates which saves you thousands Thanks for your hard work I am grateful for The support,help and savings
Branson · Airdrie, ABRead Branson’s review on Google (opens in a new tab)
★★★★★
We were in a very stressful financial situation before working with MortgageSolvers. Our private mortgage rate was high, credit card balances were building up, and the banks were not giving us any real solutions. From the very first call, everything was handled professionally and transparently. They took the time to review our entire situation, explained all fees upfront, and clearly outlined what was possible and what wasn’t.What really stood out was the honesty. There were no hidden charges, no last-minute surprises, and no unrealistic promises. In the end, our monthly payments were reduced significantly and we finally feel back in control of our finances. If you’re feeling stuck, I highly recommend speaking with MortgageSolvers.
Bibek · AlbertaRead Bibek’s review on Google (opens in a new tab)
★★★★★
I was treated with care and dignity. The staff were outstanding! Not only did they get me a lower interest rate, but saw a flaw in my past financial mess and made me aware of a serious issue that was not my fault. The team and my lawyer attacked the situation with pure dedication and got me a pay out that was much more than expected. It seems this company cares and will go to the mat for you. They did for me! Thank you, so, so much!!!
Nicole · Camrose, ABSent to us by Nicole
★★★★★
Smooth steps during process. Communication and professional.
Chad · Grande Prairie, ABRead Chad’s review on Google (opens in a new tab)
★★★★★
Amazing experience! Got a mortgage to payoff my property tax bill in 48 hours!
Ethan · AlbertaRead Ethan’s review on Google (opens in a new tab)
★★★★★
They helped me get the lowest interest rate so quickly
Julian · AlbertaRead Julian’s review on Google (opens in a new tab)
★★★★★
I was overwhelmed with debt and high payments. MortgageSolvers walked me through everything clearly and reduced my monthly payments more than I expected. No hidden fees, no pressure. Just honest advice and real results.
Wanda · AlbertaRead Wanda’s review on Google (opens in a new tab)
★★★★★
Fast, organized, and responsive. MortgageSolvers kept us updated throughout the entire process and closed on time.
Rahul · AlbertaRead Rahul’s review on Google (opens in a new tab)
★★★★★
MortgageSolvers helped me get a mortgage last year and it was the best decision I made 🙏
Craig · AlbertaRead Craig’s review on Google (opens in a new tab)
Questions people ask
How much can I borrow when I refinance?
Most lenders lend up to 80% of your home’s value on a refinance, minus what you already owe. The home equity calculator gives you a rough idea.
Is there a penalty to refinance?
Often, if you break your mortgage before the term ends. The amount depends on your lender and your mortgage. At renewal there is usually no penalty, which is why many people refinance then.
Should I refinance or get a second mortgage?
If your current rate is low or the penalty is high, a second mortgage or a HELOC can leave your first mortgage alone. If not, a full refinance may cost less overall.
Can I refinance with bad credit?
Often, yes, if you have equity. Some lenders look mainly at your home’s equity, but the cost is usually higher than a bank’s.
Can I refinance to pay off debt?
Yes. That is one of the most common reasons. See debt consolidation mortgages.
How fast can I get an answer?
Approval answers typically come back in 12–24 hours.
Related options
Find out what you could save.
A free, no-obligation review. We’ll look at your current mortgage and show you exactly how much you could be saving. No pressure. Just numbers.