Refinancing - Let's Look at Your Options
January 9, 2023 | Posted by: Sharon Patton
Refinancing – Let’s Look at your Options
For many Canadians, their home is their biggest investment. Home equity can build nicely by principal reduction through payments and through increasing home values.
We can access the equity you have built up in your home by refinancing. Let's look at the top five reasons refinancing could be the option for you.
1. Fresh start. If you have too much high-interest debt, you may be able to roll everything into one manageable monthly mortgage payment with a lower interest. This will give you a financial re-set and can potentially save thousands of dollars in interest.
2. Dream home. If you’ve found the perfect cottage, chalet, or retirement home of your dreams, refinancing may be the way to make that purchase happen now.
3. Renovate. Renovating your home is often a less expensive option than moving. And the right renovations can improve the quality of your life and increase the value of your home.
4. Building Wealth. A rental property can give you the opportunity to build wealth and a source of retirement income.
5. Unexpected Expenses. You may be able to get the funds you need for major expenses (tuition, wedding, etc.) a much better strategy than loading it all onto high-interest credit cards.
If you can relate to one of these 5 reasons to refinance, let's chat today, We would be delighted to review your mortgage financing needs.
There is no cost or obligation. We are up-to-date on all of the new opportunities available – from a wide range of lenders – and can develop a mortgage plan that suits you perfectly.
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We look forward to connecting with you soon.