Let’s Us Help With Your Mortgage Refinancing
According to lending rules that apply specifically to Ontario, you can refinance your mortgage for up to 80% of property value and tap into the home equity you have built up.
Contact us today to get started
How is Mortgage Refinancing is Done?
The process is simple. Here are the factors you need to understand:
- Is your credit reasonably healthy?
- Are your debt ratios ok? (Don’t fret this, we can work with you on improving these)
- What is the value of your home and will the appraisal fall close to your assessment?
- How much of your mortgage has been paid off? Is it more than 80%?
We can help you answer these questions. The answers let us determine if you can refinance the mortgage on your Oakville home. What we then do is take out a new mortgage on the property for up to 80% of the value of the home. The difference between the mortgage amount and the equity you have built is the cash that you will be able to extract.
Some people worry about penalties on breaking their mortgage – in most cases, the penalties can be worked out and do not change the equation completely. Again, this is something that we figure out for you so that the entire experience is hassle free and seamless.
Refinance Your Mortgage to Escape the Debt Trap
One of the most common reasons for refinancing is to deal with high interest debt. Consider this, if you have tens of thousands of dollars of debt that is being serviced at interest rates higher than 15-20% – the monthly payments can be financially crippling. That debt will add up and compress your cash flow till there is nothing you can do about it other than make minimum payments and transfer money from one account to another. If there is equity in your home, we can help you access it to make it work for you. Why wouldn’t you replace this high interest debt with lower interest mortgage debt and take control of your finances. We are Oakville’s trusted advisors for Mortgage Refinancing and will guide you through the process from beginning to end to help you achieve your financial goals. Contact Us Today To Learn More.