Canadians today face many reasons to refinance their mortgage.
Access up to 80% of your home’s value less any outstanding mortgage balance.
Canadians today face many reasons to refinance their mortgage. Without a doubt, refinancing your mortgage can help you:
Lowering monthly payments
Switching to a better mortgage term
Another example might be: you may have been working at improving your credit score. And now you qualify for a new mortgage with a better discount. Or you may want to stabilize your payments by changing from a variable rate to a fixed-rate.
Refinancing your mortgage might give you a better rate. But there may be large penalties to refinancing that outweigh the savings. Thus use my mortgage refinance calculator to help you decide if refinancing is worth considering.
I’ll get the BEST RATES.
I have access to Canada’s best mortgage rates. So let me help you search the best mortgage product based on your income and credit score. Call now to find your eligibility!
Closing costs associated with Refinancing
Mostly lenders will cover your legal costs. But you might to carry your mortgage break penalty into your new mortgage. To add, penalty is charged by your lender for breaking your mortgage term early which is based on your original contract date, current mortgage balance and rate.