When you already have a mortgage, and you want to get a new one to replace your current mortgage, and maybe add more money, this is called Refinancing.
Mortgage Refinancing in Canada
We at The Mortgage Specialist are here to offer mortgage intelligence, and to welcome you to our Refinance Centre.
Here are some common questions that people have when they are searching for information on mortgage refinances:
- When should you refinance your mortgage?
- Is My mortgage refinancing worth it?
- When is refinancing a bad idea?
- When can you refinance your mortgage without penalty?
A refinance allows a borrower the opportunity to obtain a better interest rate and terms. Also it allows access to their built up equity.
Check out this video:
Mortgage intelligence is vital to secure a better deal when you are considering a mortgage refinance.
Who you work with matters, and we here at themortgagespecialist.com have industry leading experience and knowledge that we are happy to share with you.
Mortgage Refinance – Rate leveraging
A lower Interest rate is one of the main reasons why we get contacted by clients looking to refinance.
Interest rates have been fairly low, and they have been on the low side in comparison to averages, for the last 10 years.
With the rule changes of 2016, the rate conversation has become a far more complicated one than it previously was. The value of your home, the amount that you are looking to borrow, the length of time that you want to borrow for, your type of employment, your credit score….the list goes on and on in the determining factors of your interest rate.
The reality is that you will still be getting a very competitive rate when taking the averages into account.
Mortgage refinancing may be a great idea when
- you’re looking to use the equity you’ve earned in your home to invest
- to pay off higher-interest liabilities, or
- to complete much-needed home renovations.
Be prepared to execute it properly
Failing to execute your strategy properly could end up wasting the equity that you’ve worked hard to earn in your home.
We offer numerous smart strategies for mortgage refinancing through our finely-honed mortgage intelligence.
For a deeper conversation don’t hesitate to give us a call today for a no-pressure conversation on mortgage refinancing.
To help our clients with mortgage financing, we work with the following concepts:
- HELOC (secured line of credit)
- Interest-only and other low-payment options
- Access to second/third mortgage financing, including privately-sourced financing
Call us at 778-233-2377 for specific mortgage intelligence, to get the ball rolling, or alternatively—email us at [email protected] and we will send you more information on our home refinancing process.
The information we can offer you will help you make smarter decisions, save home equity and help ensure your financial success. Don’t refinance your mortgage without more information from The Mortgage Specialist.