The equity in your home is your most important asset. With interest rates as low as they are, it could be in your best interest to refinance your existing mortgage to help you reach your short or long term financial goals.
Refinancing your mortgage can help with
- Renovating your home to increase property value
- Consolidating high interest lending, including credit card debt, into one low monthly payment
- Invest in your future with RRSPs and use your tax refund to pay down your mortgage
- Invest in your child’s education
- Purchase an investment property or vacation home
Refinancing before your renewal date if you have a closed mortgage may mean you will face a penalty. We can help you determine if it still worthwhile to refinance and help you determine whether the interest-rate savings outweigh your penalty.
If refinancing your mortgage doesn’t make financial sense, we can also help you obtain a second mortgage on your property to help you put your equity to work.