Check what you qualify for
Established physicians

Renewals, refinancing and your next property

Your first mortgage is done. Now the goal is a better rate at renewal, using your equity well and buying the next property the right way.

Check what you qualify for
Experienced physician in a white coat with a stethoscope, arms crossed in his office

Renewal

Compare before your lender's offer arrives. Switching may not need the stress test.

Refinance

Access equity for renovations, a practice buy in or to consolidate debt.

Next property

A bigger home, a rental or a cottage, financed in the right order.

When should you start your renewal?

—days to go
—start comparing
Many lenders can hold a switch rate for about 120 days before renewal.

How much equity could you access?

—available to refinance
—maximum mortgage at 80%
An estimate. The lender confirms value with an appraisal and you still qualify on income.

Incorporated?

Switching, refinancing and buying all mean a lender reads your corporate income. The guide for incorporated physicians explains what they look at.

Questions established physicians ask

Do I have to pass the stress test again to switch lenders at renewal?

Not for a straight switch. Since November 21, 2024, moving your mortgage to a new lender at renewal, with no change to the amount or amortization, does not require the stress test again.

How much can I borrow when I refinance?

Up to 80% of your home’s value, minus what you still owe. The calculator on this page shows a quick estimate. The lender confirms the value with an appraisal.

Can I use my home equity to buy a rental property?

Often, yes. A rental you will not live in needs at least 20% down, and equity from your home can cover it. Lenders count some of the expected rent when they qualify you.

I am incorporated now. Does that change my renewal?

A straight renewal with your current lender usually does not. A switch, refinance or new purchase means a lender reads your salary, dividends and corporate income, so the choice of lender matters.

Find out what you can buy before you start looking

Tell us where you are in training or practice. Asim will compare medical professional programs across banks and broker-only lenders and show you a realistic budget.

Check what you qualify for
Smiling couple carrying moving boxes and a plant into their new home