Make Your Equity Work for You!

With the low interest rates and market situation, I’m predicting a lot of refinances this coming year. Keep your eyes peeled this week for a series of posts where I break down the process and what to expect.
A refinance is where you break your existing mortgage and replace it with a new mortgage with different terms (new amount, new interest rate, new everything).

There are several compelling reasons why homeowners refinance their mortgage:

  • To get a lower interest rate
  • A much needed financial reset (pay off high interest debt, credit cards etc)
  • Renovate (pool, new basement, new kitchen etc)
  • Invest in the future (buying a cottage or a rental property)
  • Large purchase (wedding, tuition, business)

It’s said that most people change their mortgage every 3.5 years. If you are looking for a cost benefit analysis of your current situation (no cost to you and no obligation), please reach out below:

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