Considering whether or not it is a good time to refinance your mortgage in Canada? Get in touch with us about Mortgage Refinancing.
There are a variety of reasons Canadian mortgage holders would choose to seek out mortgage refinancing:
- Your credit has improved and you are now ready to qualify for a better rate.
- You want to switch from a variable rate mortgage to a fixed mortgage to stabilize your payment.
- A better interest rate is available that could reduce your monthly mortgage payment.
- Refinancing your mortgage will allow you to borrow money at a lower cost than a traditional loan to consolidate debt, make home improvements, or even invest in another property.
Changing the existing balance of your mortgage can occur anytime during the term of your loan. Understanding the benefit of refinancing a mortgage in Canada is simple: if savings result even with the cost associated with mortgage refinancing then refinancing your mortgage rate is the best option for you.
Several factors should be considered when refinancing your mortgage rate, including how long you plan to keep your house, your current and new mortgage rate, your current and new mortgage payments, penalties, and closing costs. At Mortgage Winners, a professional mortgage broker will discuss your unique situation and provide you with personalized advice on whether or not mortgage refinancing is the best option for you.
Contact Mortgage Winners to explore the option of refinancing your home mortgage in Milton, Ontario. Mortgage refinancing by Mortgage Winners has the potential to save you money! Just think what you could do with these new found dollars!