Owning a home is a dream for many Canadians, but keeping up with monthly mortgage payments can sometimes feel like a heavy burden. If you’re looking to lower your payments, pay off your mortgage faster, or access the equity in your home, refinancing could be a smart financial move.
But not all lenders are created equal. To really save more on your home loan, you need to refinance through a company that offers low rates, fair terms, and excellent service.
In this guide, we’ll explore some of the best mortgage refinance companies in Canada in 2025—and help you understand how refinancing can lead to big savings.
What is Mortgage Refinancing?
Mortgage refinancing means replacing your current mortgage with a new one—usually with better terms. Most Canadians refinance to:
- Get a lower interest rate
- Switch from variable to fixed rates (or vice versa)
- Access home equity for renovations, debt consolidation, or investments
- Shorten the mortgage term
Even a small reduction in interest rates can save you thousands of dollars over time.
How to Choose the Right Mortgage Refinance Company
Before jumping in, here’s what you should look for in a refinance lender:
- Low interest rates (compare both fixed and variable)
- Minimal penalties or fees for switching
- Flexible repayment terms
- Quick approval process
- Good customer service
Now let’s look at some top refinance providers trusted by thousands of Canadians.
Top Mortgage Refinance Companies in Canada (2025)
1. RBC Royal Bank
RBC offers customized refinancing solutions with solid support from advisors. Their competitive fixed and variable rates make them a favorite among existing homeowners.
Why choose RBC?
✓ Trusted nationwide
✓ Easy online application
✓ Helpful refinancing tools
2. TD Canada Trust
TD gives you flexible options like early renewals and lump-sum payments. Their mortgage advisors are available in branches across the country.
Why choose TD?
✓ Personalized guidance
✓ Options to adjust payments
✓ Great online calculators
3. Scotiabank
Scotiabank’s “Switch and Save” program helps you transfer from another lender and save on interest. Their mobile app makes mortgage management simple.
Why choose Scotiabank?
✓ Sometimes covers switch fees
✓ Transparent process
✓ Online + in-branch support
4. nesto
nesto is an online mortgage platform with very low refinance rates. Everything happens digitally—from applying to approval.
Why choose nesto?
✓ No hidden fees
✓ Fast approvals
✓ Fully digital experience
5. True North Mortgage
As a broker, True North compares rates from multiple lenders to get you the best refinance deal. Great for first-timers and smart savers.
Why choose True North?
✓ Lowest rate guarantee
✓ Multiple lender options
✓ Available online & in-store
6. CIBC
CIBC offers mortgage refinancing along with cashback incentives. Their tools help you track mortgage progress and calculate potential savings.
Why choose CIBC?
✓ Cashback offers
✓ Credit-friendly options
✓ Personalized refinance plans
7. Tangerine
This online-only bank (owned by Scotiabank) has a low-cost refinance option with no branch visits. Perfect for tech-savvy homeowners.
Why choose Tangerine?
✓ Simple online process
✓ No physical paperwork
✓ Competitive rates
When is the Right Time to Refinance?
Refinancing isn’t something you do every year. But 2025 might be the perfect time if:
- You got your mortgage 3+ years ago
- Your credit score has improved
- Interest rates are lower than what you’re currently paying
- You need access to home equity for big expenses
Tip: Use an online mortgage refinance calculator to see your potential savings before applying.
Refinancing your mortgage is not just about lowering your interest rate—it’s about reshaping your financial future. Whether you’re paying off your home faster or freeing up money for other goals, choosing the right company matters.
The lenders listed above offer some of the best options in Canada today. Do your homework, compare rates, and talk to a mortgage advisor if needed. A few hours of research can save you thousands of dollars over the life of your mortgage.
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