REFINANCE IN CANADA AT LOW RATES
Many of my clients are applying for mortgage refinancing in order
to keep on track with their financial goals. A home refinance can
be beneficial in many ways when today’s' mortgage rates are at
historically low levels and you have available equity in your
home.
I can review your home mortgage and help you save money. My
application process is simple and efficient as I can have your
mortgage approved in 24 to 72 hours.
Mortgage Refinancing in Canada Continues at Low Rates
Low refinancing rates have helped consumers save money by paying
off their existing mortgages and debts. This year has seen some of
the lowest fixed rates in history which make this an ideal time to
use home equity to refinance a mortgage and save money. The last
few years have seen real estate prices appreciate anywhere from
25% to 50% in some areas of Canada. There is more equity available
in homes to pay off existing debts such as credit cards, credit
lines, car loans and other personal loans. Another useful strategy
is to renovate an existing home to increase its value for the long
term, or before selling it to get a higher price. Using home
equity at today's low refinance rates is one of the best options
to do this.
With fixed mortgage rates around the 3% mark, monthly mortgage
payments can be kept to a very reasonable amount while other debt
payments are eliminated. A typical mortgage payment per $100,000
is approximately $450 monthly at current rates. Have a look at
your current financial situation and decide if a mortgage
refinance would help you save money at this time. As an
experienced mortgage broker, I can help assist you with
calculating monthly savings for you using a before and after
projection.
The average mortgage refinance takes about 2 weeks to close and
requires very little time on the consumers part. A simple online
application can get the process started and an approval can be
arranged in less than 24 hours. Documents for the refinance will
be sent to your lawyer and you will only need to make one visit to
their office to complete the transaction.