Interested in mortgage refinance?
You have an existing mortgage on your property in Toronto, and for any number of reasons, now you’re considering breaking that mortgage and starting a new one. Depending on how much time is left on your term, there may be a prepayment penalty to break out early. This is why one of the most important steps when you are refinancing your home, is crunching the numbers to be absolutely sure it makes sense.
Mortgage refinance to consolidate your debt
Interest rates are at an all-time low. Unsecured loans like credit cards and personal lines of credit have much higher Interest rates than your mortgage, which is secured against your property. If you’ve racked up a significant amount of personal debt, it might be a good time to consider refinancing the mortgage on your home.
In a debt consolidation refinance, you break your existing mortgage, start a new one with additional funds that are used to pay off all your other debts. Then you focus on paying down one, secured and low-interest loan: your mortgage.
Mortgage refinance to access more equity in your home
Any time you obtain a loan on your property in order to take out equity for another purpose, it’s called an equity take out mortgage or an equity loan. Maybe you have a number of home repairs whose costs are eating into your cash flow. Or perhaps you’ve decided to put a down payment on a vacation property for you and your family.
Whatever your reason, consider a refinance that lets you capitalize on the accumulated equity in your home for use in other areas of your life.
The 8twelve Team
When you say, “refinance my mortgage”, we say, “you’re in good hands”. With solid lender relationships across the board, we’re able to offer industry-best refinance mortgage rates. Couple this with our efficient process and creative financing solutions, and what you’re left with is the perfect mortgage refinance secured exclusively for you.
What’s The Takeaway?
This Applies To You If You Are...
You’re considering a mortgage refinance for any number of reasons.
You Need It Because...
You have high-interest, unsecured debt that you want to consolidate. Or, you want to pay for your planned renovations with a secured mortgage against your home. Or, you’ve built up equity in your property and you want to take advantage.
You Can Obtain A Refinancing By…
Clicking the link below. Just follow the simple steps we’ve provided and never hesitate to get in contact with 8Twelve if you have questions. We’re here to explain and demystify the mortgage refinance process to ultimately help you make the best financial decisions for you and your family.
