Is it time to refinance
Benefits of Refinancing your Mortgage
There are many reasons why you would want, or need to refinance your mortgage.
Some people are carrying debts on credit cards, lines of credits, past due income tax, second mortgages etc. that are costing them thousands of dollars a year in interest costs.
Others may want to improve their property doing much wanted or needed home repairs, or pulling equity out for a down payment on another property.
What ever the reason is that you are looking at doing it, 1st mortgage interest rates are typically the lowest borrowing costs there is.
If you choose to refinance your mortgage, we can typically go up to 80% of the value of the property.
Once the refinance is done you can take a look at your new financial position and decide at that time if you have a monthly cash flow that would allow you to make prepayments.
Or perhaps if you’re mortgage rate is around 2.99-3.5% you may want to take the excess funds you were paying and invest that money into your TFSA or RRSP’s.
In my experience refinancing all your debt into a nice tidy place gives a person a more relaxed feeling instead of having debt payments flying out of your bank account for this that and the other thing.
When you are ready and have time to have a 30 minute conversation, I would be happy to help you structure your mortgage to allow you some financial freedom 403-342-2471.