Refinancing
Pay off your current mortgage and replace it with a new one. This can help you reach a variety of goals.
Refinancing makes sense when you want to borrow additional funds, at a lower interest rate compared to other types of unsecured credit. Reasons to refinance may include:
- Home improvement projects
- Fund tuition
- Vehicle purchase
- Recreational or investment property purchase
- Other investment opportunities
How does refinancing work?
Your mortgage agent will help you find a lender that is best suited to your needs.
- First we will review your refinancing options together.
- You’ll be offered a number of loan options, so discuss them with your mortgage agent and choose one that best aligns with your needs. Over and above considering the lowest rate, discuss whether a fixed or adjustable rate is better for your situation.
- Your mortgage agent can help you navigate administrative costs such as transfer fees, legal and other associated costs. It could be possible to have your lender absorb these costs, it’s worth asking!
- Be ready with a few required documents such as proof of income, income tax returns, recent bank statements and your monthly expenses.
