How Do You Know Mortgage Refinancing is Right for You?

November 12th, 2012, Toronto, Ontario, Canada

Everyone could use some savings on their mortgage… but is mortgage refinancing the right thing for you? Here we’re going to go over all of the benefits and answer some pretty common questions we all have when it comes to this. You shouldn’t take the leap until you know everything you need to, and we’ll cover virtually everything that you need to know before you do! Remember, refinancing your mortgage can save you a lot of money but if you don’t have the right Toronto mortgage broker (read: us) to help you it could cost you big.

What Does Mortgage Refinancing Do?

First things first, mortgage refinancing is NOT another mortgage or another loan that you have to deal with. You’re going to take your existing mortgage and turn it into something more manageable, but it will be the same mortgage. It’s going to take the monthly payments you’re dealing with right now and lower them, lower the interest rate you’re paying but in most cases you will have a longer time to pay off your mortgage. This way you’ll be able to get all the money you need without any of the stuff that you don’t.

What are the Benefits?

If you’re looking at the benefits of a mortgage refinance you’re going to want to think about things like how much money you have left to pay. If you have a low amount and only a year left, you’re not going to get much out of mortgage refinancing. You’re going to need to think about just paying off your mortgage in the time left if you can.

If you have time left on paying your mortgage, you’re going to want to think about it though! You’ll be able to (in some cases) cut your monthly mortgage payment in half. You’ll be able to put more and more money towards the principal of the mortgage instead of paying off high interest rates month after month. When you work with us as your Toronto mortgage broker you’re going to get all the help you need to save money. You won’t have to put up with high interest rates and your payments will go down, the benefits are easy to see!

Are There Risks?

There can be risks when it comes to mortgage refinancing, but this usually stems from working with the wrong lender and Toronto mortgage broker. When you work with us you’re going to get all the help you need to refinance your mortgage; just because you started out with bad credit doesn’t mean you still have it, let us help you get the right deal for you.

If you’re ready for something better, for something different, it’s time to experience the difference or Toronto mortgage brokers can give you! Contact us today and see what we can do for you – it’s more than just saving money, it’s about getting the right deal for you.

Homebase Mortgages is a leading Toronto mortgage broker, which specializes in all types of mortgages ranging from home equity loans, second mortgages, private mortgages, mortgage refinancing, mortgage renewals, home mortgages and hard money lending.

Contact Information

Mike Smith

Marketing Coordinator

HBM

Contact via E-mail