Mortgage Refinance
Refinance with Confidence
Your mortgage should evolve with you. Whether you're looking to lower your interest rate, reduce your monthly payments, access home equity, or simplify your finances, refinancing can be a powerful tool to take control of your financial future.
At Valko Financial, we’ll guide you through a personalized refinancing strategy that supports your goals—now and in the years ahead. From unlocking equity for renovations or investments, to consolidating high-interest debt into one manageable payment, or simply securing a better rate, we’re here to help you make the most of your mortgage.
If your current rate is higher than today’s market, you’re carrying debt, planning a major purchase, or approaching renewal, it’s worth exploring your refinancing options early. Let’s make your mortgage work smarter for you.
Does refinancing cost money?
Yes, there can be costs associated with refinancing—but they vary depending on your lender, mortgage type, and the timing of your refinance.
Some of the most common costs include legal fees, appraisal fees, and possibly a prepayment penalty if you're breaking your current mortgage early. However, in many cases, these costs can be rolled into your new mortgage or offset by the savings you gain with a better rate or debt consolidation.
We’ll walk you through the numbers so you know exactly what to expect—and help you determine whether refinancing is the right move for your goals. In many cases, the long-term savings outweigh the upfront costs.
How much equity do I need to refinance?
To refinance your mortgage and access your home’s equity (often called a “refi with equity take-out”), most lenders require that you retain at least 20% equity in your home after refinancing. That means you can typically borrow up to 80% of your home’s appraised value, including your existing mortgage balance.
If you're not looking to access equity and are simply refinancing for a better rate or to consolidate debt, the equity requirement may vary. Not sure how much equity you have? At Valko Financial, we’ll run the numbers and help you understand your options—so you can refinance with clarity and confidence.
Can I refinance early?
Yes, you can refinance your mortgage before your term is up—but it’s important to understand the potential costs involved. Refinancing early may come with a prepayment penalty, especially if you’re breaking a fixed-rate mortgage. The amount depends on your lender and how much time is left in your term.
That said, in many cases, the long-term savings from a lower rate, better terms, or debt consolidation can outweigh the penalty. It’s all about running the numbers and weighing the pros and cons.
I recently met with Tracy Valko to review my house mortgage as I was about to enter retirement. I left that meeting feeling very at ease and satisfied that my concerns and needs were not only well take care of with a new plan of attack, but also in that emotionally, Tracy left me feeling acknowledged and appreciated for how my income stream was about to change in ways I had never experienced. I would recommend Tracy and her team for any mortgage planning and in fact, any financial planning period.
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Craig Dubecki
17 days ago
Adding to my review as it has been 8 years since first working with Tracy for home financing. I recently went through the renewal process with Tracy and had again a wonderful experience. Tracy really helps me to understand every step of the process in a way that is not intimidating or overwhelming. She has built my confidence in understanding home financing and how to educate myself for making the best decisions. Tracy and her team are approachable and available and I have never had a question go unanswered. They are knowledgeable and efficient and I really working with this team. Thank you Tracy and team!!! I had the pleasure of working with Tracy to obtain financing for my first home. Being new to the housing market was intimidating, however Tracy made me feel comfortable and allowed me to ask as many questions as needed. Tracy is very knowledgeable about the field she works in, and I truly felt like she was looking after my best interest and providing me with helpful support. I have since referred other friends purchasing their first home to Tracy as I know they are in good hands! Thanks Tracy!
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Lindsay H
8 years ago
Switching brokers was the best decision I could have made. Tracy and her team are truly wonderful. They patiently answered all of my questions—and there were many—while guiding me through every step of the process to ensure I was fully informed. A special shout-out to Samantha for her incredible support! I felt valued throughout the entire experience and know I am in excellent hands with Valko.
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Amanda G
18 days ago
Ready to explore your options?
Let’s chat about your goals and see if refinancing makes sense for you. We’ll run the numbers, compare your options, and help you make a confident decision.