Etobicoke Mortgage Broker
Mortgage Refinancing in Etobicoke, Guelph, Hamilton, Brampton
The majority of house owners attempting to refinance a mortgage are looking to accomplish one among the following:
- Consolidate Debt (credit cards/loans),
- Taking advantage of lower interest rates,
- or Access funds for other important projects, such as
- Home renovations, investment/rental property,
- Planning for your children’s future education, or
- Dreaming about great vacation.
Put your home equity to work for you…
You have worked hard to build the equity in your home and now might be the time to get the equity, working for you. You may qualify to up to 95%* value of your home (Normally 80%) – one of the biggest assets you may own.
1. To take advantage of low-interest rates
Don’t let penalties deter you; first, know the numbers. Breaking your contract for a lower interest rate can save you money over time, depending on the penalty and the size of your outstanding mortgage.
2. To access equity (cash) in your home
Through refinancing, you can increase up to 80 percent of your house's value less any outstanding mortgages. That’s extra money for investment opportunities, home renovations, or your children’s education.
3. To consolidate debt
If you have enough equity in your home, you will be able to pay-out high-interest debt through a refinance. For example, if you have a number of outstanding debts, such as a car loan, a line of credit, or credit card bills, you may be able to consolidate all of the debt through the variety of refinancing options available.