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 am extremely grateful for all the help and support I received from my mortgage broker (Tracy Valko and her team) She was professional, responsive.She took the time to explain everything clearly, answered all my questions, and worked hard to find the best mortgage option for me. Her expertise helped me secure a great mortgage and save money. Beyond her professionalism, she is a very kind and caring person who made the entire experience much easier. I would not hesitate to recommend her to family and friends."
Read more
REEM THAHER
13 days ago
Tracy and her team were recommended by our family members and what a great recommendation that was! As a first time home buyer, I was feeling overwhelmed. Tracy made this experience much more approachable - she was ready to listen to any questions we had and had responses/explanations that were thorough and easy to understand as someone who is unfamiliar with this world. Our realtor was also impressed with how quick and easy it was to work with this team. Can't recommend them enough!
Read more
Mara Thorsteinson
15 days ago
Working with Tracy was an outstanding experience from start to finish. She took the time to understand my situation, patiently answered my questions, and was always available whenever I needed guidance or clarification throughout the process. What impressed me most was Tracy's expertise as a mortgage broker. Her deep knowledge of the mortgage market helped me confidently navigate my options and choose the mortgage terms that were best for my situation. She explained everything clearly, offered thoughtful advice, and made what could have been an overwhelming process feel straightforward and manageable. On top of all of that, Tracy has a wonderful disposition – she is a genuinely positive person, who is just a pleasure to deal with. When I found my home, Tracy was excited for me, and her enthusiasm made the experience even more special. I'd also like to recognize her team member, Cindy, who was wonderful. She was friendly, responsive and organized, ensuring the administrative steps proceeded smoothly. I am truly grateful for the support, expertise, and care that Tracy and her team provided. I highly recommend her to anyone looking for a mortgage specialist that combines exceptional knowledge with a genuine commitment to client success. Thank you Tracy!
Read more
Erin M
15 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.