When we buy a new property, there is one thing that will hurt our pockets, even when we have become the proud owners of our house, and that is the Interest that we pay.
Mortgage refinancing is there for your rescue as it involves paying off an existing loan and replacing it with a new loan, only with a different and better set of terms. Mortgage refinancing gives you the liberty to refinance up to 80% of your home’s value.
Our experts are here to guide you towards the ideal mortgage refinancing strategy in Toronto. This saves not only your money but your credit score too, apart from cutting down your debt.
Benefits of Mortgage Refinancing
- Pay-off high-interest loans
- Obtain a better mortgage rate
- Lower monthly payments
- Proceed with other pending home/business projects
- Renovating your house
There are certain drawbacks attached to Mortgage Refinancing as well such as;
- Longer Loan Term
- Higher fees/penalties
- Less Savings
You must first decide if you really have the right reason to opt for the mortgage refinancing and if this is the correct choice after evaluating the value of your property.
Every mortgage refinancing plan is different for every customer. Therefore, our professionals will come up with relevant solutions to your specific mortgage refinancing queries and help you save many bucks on your mortgage.
Contact us to schedule a meeting with our Sunlite Mortgage experts today!