Is Mortgage Refinancing Right For You?
In many cases, mortgage refinancing can be a very smart financial move for a homeowner. With the right strategy in place, you could benefit from lower monthly mortgage payments, more flexible repayment options and more.
If you are considering refinancing, our mortgage agents can help you identify the potential benefits that you could realize, and offer expert guidance to avoid the pitfalls that can result from a poorly planned refinance.
When you work with InTrend Mortgage, our agents will negotiate on your behalf to find the best possible mortgage rates, the best possible terms and the fewest possible penalties to determine if refinancing your mortgage is a wise financial strategy.
Why refinance your mortgage?
There are many reasons you may choose to refinance an existing property. Below we’ll examine a few of the key reasons why homeowners consider refinancing their mortgage:
Often, when household bills have spiraled out of control, refinancing your home can be a great way to pay them off. Refinancing can help you pay them off at a substantially lower interest rate, with one monthly payment.
Combining two existing mortgages into one
If you’ve already refinanced a property, and already have a second mortgage, we can show you how combining them into a new first mortgage can help reduce payments, making them more manageable.
This option may be open to you, if the combined total of your existing mortgages does not exceed 90% of your property’s value. Keep in mind that if your new first mortgage will be for more than 75% of your property’s value, CMHC premiums will apply.
As well, you may be responsible for any penalties or costs associated with discharging an existing mortgage.
Financing a home renovation
Mortgage refinancing is a great way to lower the costs of borrowing to renovate an existing property. Our mortgage agents can find you borrowing rates that are much lower than traditional loans, i.e, lines of credit or credit cards. If you’re thinking of renovating, come talk to our mortgage refinance experts.
Financing investments and investment properties
Put your equity to work! If you already own your own home, and have built up equity, you can leverage that equity to buy monetary investments, or investment properties. You may even be able to write off the interest costs against your taxable income.
With the costs of education going up every year, refinancing your home mortgage can free up equity that can be used to pay for your children’s education. Best of all – you’ll benefit from rates and payment plans that are much more manageable than many other traditional forms of student loans.
Call us today at 905-780-8988 to find out if refinancing your mortgage is right for you.
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Last Updated: 22-03-2023
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Low Interest Rates are Just the Beginning
InTrend Mortgage agents understand that finding the right mortgage plan starts with finding the best mortgage loan rates possible. Your agent will creates the perfect mortgage plan by carefully considering your needs.
- Do you save more and get a lower interest rate with a fixed mortgage?
- Are you better served with a variable rate?
- How long of a term should your mortgage be, based on how long you plan to keep the home, business or investment property?
- Is your mortgage plan flexible enough to allow for lump sum payments or increases to yori monthly payment?
Your InTrend Mortgage agent could save you thousands of dollars on your next mortgage
That’s because every InTrend Mortgage agent negotiates on your behalf with multiple lenders to find you the absolute lowest mortgage loan rates possible. Free from the limitations of dealing with individual banks or lenders, your agent works tirelessly to deliver a mortgage plan that will beat all other mortgage rates, with the terms that match your needs.
Call us today at 905-415-8488 – and let an InTrend Mortgage agent show you how much money they can save you on your next mortgage.