Mortgage Refinance Vancouver, Squamish BC
Simply stated, a refinance mortgage is renegotiating the terms of your home mortgage and can also allow you to take the equity out of your home and repurpose those funds.
There are a number of reasons why you would consider a refinance. If your original home loan has a higher interest rate than currently offered you may want to renegotiate the rate. At the same time, you may want to borrow additional funds to pay off current debt and have one payment to simplify your life, pay for secondary education, top up your investment portfolio, renovate your home or even purchase your dream vacation home. You may have another reason to refinance your home mortgage which is perfectly fine.
There are many reasons to consider if a
refinance mortgage is best for you
Refinancing your home mortgage can be with the same lender or you can change lenders depending on what suits your needs best. Together, you and Heather will determine what is best for you. It is most important to know that you can refinance your home mortgage as long as you have at least 20% equity in your property and your current mortgage is in good standing.
A refinance of your home mortgage is not the same as adding a home equity loan to your mortgage. They essentially can give you money loaned against your equity but a home equity is a separate title charge . This does not change the terms of your first mortgage but operates as a separate revolving source of funds accessible by you. As you pay down your home equity loan or line of credit you, access back to those funds. Many self-employed or commissioned employees will utilize a line of credit. With fluctuations in their income a line of credit offers them necessary cash flow.
Heather will review your Refinance mortgage
options and provide solutions to your
specific needs while keeping
your payments affordable
Are you looking to access some of the equity built up in your property? Maybe you want to consolidate some debts, start a new business, buy a vacation or investment property, or travel the world… regardless, let’s discuss all your mortgage options!