Overhaul your Financial Situation
Refinancing your mortgage to use the current wealth in your property
Refinancing your mortgage in its simplest form means replacing your existing mortgage with a new one on different terms. People sometimes confuse a refinance with a renewal. The two are not the same.
- Renewal: A renewal is simply signing a new contract to continue your current mortgage for another term, usually with an updated interest rate to reflect the current market.
- Refinance: Completely breaking your current mortgage contract and replacing it with a new one. The new mortgage helps pay off the old and can come with extras - more funds, better terms, different lender etc.
Help Of A Mortgage Broker
Common Reasons To Refinance Your Mortgage
Lower your
mortgage rate
A refinance is an opportunity to lower your rates, if rates fell substantially since you got your mortgage.
Access home
equity (cash)
Use the equity that has been generated due to the appreciation in value of your property for your needs.
break your current
mortgage
Get out of your current mortgage into a new one with better terms, higher value, lower rates or all three combined
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