Mortgage Refinancing – Second Mortgages – Debt Consolidation – Home Equity Refinancing – Home Owner Line of Credit
Are you looking into refinancing your home mortgage? Do you need a second mortgage to pay off property tax arrears, revenue Canada debts or to remodel your home? Whether you’re interested in a lower interest rate, consolidating debt, or tapping into home equity for some home improvements, there may be many good reasons for you to consider refinancing.
You may be able to access up to 80% of your homes’ value through refinancing your home or securing a home owners line of credit based on the equity in your home.
You may also be interested to know, you can consolidate the debt you have incurred on your credit cards, car loans, student loans and more. If you have enough equity in your home you can pay off your debts using your home equity and save a lot of money by switching to a low interest rate when you consolidate.
The cost of refinancing your current home mortgage may be a penalty of 3 months or more interest, but don’t let that deter you. The long term savings may be well worth a few extra months in interest payment penalties. Let Mary help you crunch the numbers and come up with the most cost efficient plan for your next mortgage.