Refinancing

The main reason to refinance your mortgage is to feel more comfortable in your financial situation and do what works for you.

Refinancing a mortgage means paying off an existing mortgage and replacing it with a new one.  There are many reasons why homeowners refinance; to obtain a lower interest rate, shorten the term of their mortgage, convert from an adjustable-rate mortgage to a fixed-rate mortgage, tap into home equity to finance a large purchase, or to consolidate debt.

Refinancing can be a great financial move if it reduces your mortgage payment, shortens the term of your mortgage, or helps you build equity more quickly.  Before you refinance, take a careful look at your financial situation and ask yourself:  How long do I plan to continue living in the house?  How much money will I save by refinancing?

Whether you are purchasing a new home, renewing your existing mortgage, refinancing to consolidate debt or simply wanting to take a home equity loan, our team of mortgage agents will work with you to find a solution best suited for your needs.

Reducing your interest rate not only helps you save money, but it also increases the rate at which you build equity in your home, and it can decrease the size of your monthly mortgage payment.

Reasons to refinance your mortgage may include, but are not limited to:
  • Home improvements
  • Debt consolidation
  • Replacing an existing mortgage at renewal
  • Combine first & second mortgages
  • Consolidate a consumer proposal
  • Lower interest rate & monthly payment
  • Equity takeout
  • Investments
  • Major purchases (i.e. furnace, vehicle, wedding, etc…)