Refinance My Mortgage
What is a mortgage refinance?
Maury has worked with and helped a number of clients refinance their mortgage for a variety of reasons and benefits. Some reasons to refinance and potential benefits may include but not be limited to:
- Save every month by getting a lower interest rate
- Save by paying off other debt(s) that are being charged a significantly higher interest rate (e.g. credit cards, car loans, lines of credit)
- Improve their home by using their equity to pay for renovations
- Purchase a home they will use as a vacation or rental property
- Help to cover the cost of a child’s post secondary education
- Following a relationship or partnership ending, a mortgage usually needs to be restructured to only have the person/people on the mortgage that will be remaining in the property
Arranging and setting up a refinance is as important if not more important than when obtaining a mortgage at the time of purchase. This is because a refinance is typically done with a goal in mind and it is centred around saving money and structuring debt the best way possible. As such careful and thorough consultation is very important to draw out all important points and factors to ensure nothing is missed or left out that could play an important role in determining what will be the best way to structure the new mortgage. This highlights the importance of working with an Accredited Mortgage Professional like Maury Lum.
Contact Maury today to have him work with you to see if a refinance will improve or help you for your specific situation and then how best to manage your refinance.
