Refinancing Your Home Could Save You $1000′s

 

If you think there’s no reason to reassess your mortgage until its term is nearly up, you could be cheating yourself out of thousands of dollars.

What would you do with the money if you could save thousands? Would you invest it? Would you make a purchase you’ve been delaying? Would you contribute to your child’s education fund? Wouldn’t it be better if that money was yours, rather than lost in interest?

While there may be a fee for refinancing your mortgage early, the savings you could stand to make from taking on a new mortgage with lower interest rates could be worth it. That’s why it’s important to reassess your mortgage at least once a year. That way you can make sure that your investment is always working in your favour.

Make The Correct Assessment Without Complicating Your Life

Correctly calculating the total costs and comparing the two scenarios can be complicated, but we have the technical expertise to help you make the right assessment. And if you do decide to refinance your mortgage, we are here to help you do it successfully.

We can help you refinance your mortgage if you’re doing it to:

  • Buy investments;

  • Purchase an investment property;

  • Finance education;

  • Finance renovations;

  • Consolidate your debt;

  • Refinance two mortgages with one mortgage;

  • And any other reason you might have for refinancing!

Find Out If You Could Get A Better Mortgage Now

Finding out whether you could get a better mortgage right now is as easy as getting in touch with us. Contact us and we’ll help you establish your options and assess what would work best for your situation.

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Refinancing

 

There can several reasons Canadians refinance their mortgage. Some of the more common ones are:

 

  • Interest rates have fallen and your mortgage rate is currently higher

  • Move from a variable rate to a fixed rate to set payments and protect from fluctuating or potentially increasing rates

  • You want to make a large purchase

  • You want to invest

  • Buy additional properties

  • You want to renovate your home to increase comfort and value

  • Lower your monthly payment

  • Consolidate all your outstanding debt into one rate and payment

  • Getting a mortgage product that offers more flexibility like a line of credit

 

Your mortgage can be refinanced at anytime. A quick analysis by Gilbert Checoury can determine if refinancing is in your best interest. The maximum percentage Canadians can withdraw is 80 % of the value of their home when refinancing their government-backed insured mortgage.

 

Whatever your reasons for wanting to refinance your mortgage, seek sound advice from Gilbert Checoury, whose expertise can examine your current home equity and your goals to recommend the best course of action.