I am considering refinancing my mortgage first to roll in 30k debt I have and second to get a lower interest rate. (From 3.59 % to 2.04)
My home equity allows me to do that as I have sufficient capital. I contacted a legal advisor in Etobicoke, and he promised to talk about it. But I want to be more specific before meeting him.

My question is - when I refinance, and the new bank will run my TDS and GDS calculations. Would they use my current mtg payment (3.59%) or the new one (after refinance) to see if I am below the ratios? This amount will have debt rolled in, and it actually works out cheaper than current payment without liability.
Thanks!