ACCESS THE EQUITY IN YOUR HOME:

Did you know, you can borrow against your home. In fact, your home can be an excellent source of funds for things like renovations and repairs or consolidating other debts. When you refinance, you replace your existing mortgage with new terms.

Whether you’re looking to refinance to consolidate your debts, pull out money for an investment opportunity, or unforeseen expenses, we will help you renegotiate your existing mortgage to access the equity in your home.

When refinancing, we will need proof of income, a home appraisal (to determine the property valuation), a credit check, and a list of your assets and liabilities. Although it might sound complicated, it’s really quite simple.

HOW IT WORKS:

When you get a mortgage you make regular payments. Over time, you start building equity in your home. This equity can then be used as a source of funds. Your homes equity is the difference between your outstanding mortgage balance and your property’s market value. If you need to access funds, you can tap into your equity and access up to 80% of your home’s appraised value. For example, if you had a property worth $500,000 with an outstanding mortgage of $300,000, you can access up to $100,000 from the equity in your home.

BENEFITS/REASONS FOR REFINANCING:

  • A better mortgage rate
  • Lower monthly payments
  • Shorter term
  • Receive money
  • Consolidate debts
  • Remove someone on title