Flexible Home Financing to Meet Your Goals
Today, there are many reasons why Canadians like you are making the choice to refinance their mortgage. For example, they may have been working on improving their credit score and now qualify for a new mortgage with a better interest rate. Maybe they wanted to stabilize their payments by changing to a fixed-rate mortgage from a variable rate mortgage. Why don’t you make the same choice like many Canadians have and refinance your mortgage?
Mortgage refinancing is a great option to pull out equity for consolidating debt or for financing home improvements, making investments, paying for college expenses and more.
Contact a Mortgage BrokerWe Are Here to Help You Refinance Your Mortgage
Regardless of the reasons you have for wanting to refinance your mortgage, as your mortgage brokers in Alberta, we will help you learn about the costs of refinancing and guide you through the steps so that you can get to a better place financially.
- Obtain a lower fixed rate – A fixed rate mortgage that you received several years ago may have drastically decreased. As a result, refinancing your mortgage can allow you to take advantage of that newly reduced interest rate.
- Convert a variable rate mortgage into a fixed rate mortgage – Your interest rate with a variable rate mortgage could initially be low; however, the fluctuation can be unpredictable. Switching to a fixed rate mortgage can secure your interest rate and help your budget in the long run.
- Transfer a Home Equity Line of Credit (HELOC) into a fixed rate – The payments you make on a HELOC are interest only and make it difficult to pay off the balance in a timely manner. By locking into a mortgage, you can ensure that both interest and principle payments are made so that your principal balance decreases.
- Consolidate multiple mortgages into one – You wanted to do those home renovations but to pay for them, you had to secure a high interest rate second mortgage. It can be difficult to stay on top of two mortgage payments on one property, so why not combine them? By doing so, there will be less of a burden on you and you can be more financially responsible.
- Pay off other debts – The funds received from refinancing your mortgage can be used to pay off high interest credit card bills and other expenses. For more information, take a look at our Home Equity Loans page.