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Mortgage Refinancing

Mortgage Refinancing

 

Why Should You Consider Refinancing?

you might be paying too high of interest on your current mortgage and not even know it!

  • do you want to free up equity to purchase a vehicle, boat, trailer, renovation etc?

  • do you have consumer debt that can be rolled into the mortgage – we may be able to save you thousands on interest!

  • your current mortgage might have been the best product at the time of signing, but things change you may benefit from a line of credit, let us give you a free analysis taking into consideration your current financial needs

  • we may be able to offer you a more accessible mortgage platform, for example, higher pre-payment privileges, online access to change payment frequency or the ability to make extra payments

 
 

What is Refinancing?

Refinancing may refer to the replacement of an existing debt obligation with another debt obligation under different terms. In many industrialized nations, a common form of refinancing is for a place of primary residency mortgage.

A loan (debt) might be refinanced for various reasons: To take advantage of a better interest rate (a reduced monthly payment or a reduced term), to consolidate other debt(s) into one loan (a potentially longer/shorter term contingent on interest rate differential and fees) , to reduce the monthly repayment amount (often for a longer term, contingent on interest rate differential and fees), to reduce or alter risk (e.g. switching from a variable-rate to a fixed-rate loan), to free up cash (often for a longer term, contingent on interest rate differential and fees). (source: wikipedia)

 

 

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