Landed needs to approve of financing you take out while in partnership with the program, but as long as your total debt is lower than the maximum debt level stipulated in the Landed Option, our goal is generally to approve these requests.
In short, yes, you can refinance your home without paying Landed.
That said, when you buy a home with Landed's down payment program, we want to make sure that you’re not putting yourself in a vulnerable position by taking on more debt than you can reasonably afford. That’s why we limit your ability to take out additional home loans that exceed your original mortgage amount. If, over time, you build up additional equity in your home and want to pull out a portion of this equity, you’re free to do so. For instance, once you’ve paid down $200,000 of your original mortgage, you could obtain an additional loan up to the $200,000, as long as it does not put Landed’s investment at risk.
If you're looking to refinance without ending the partnership with Landed and your goal is to just to take advantage of a lower interest rate (aka you don't take out more debt), then our goal is to approve these requests.