refinance

Refinance

Refinancing Your Mortgage – Why You Need The Right Mortgage Agent On Your Side

Are you thinking about refinancing your mortgage? Breaking your contract with your current provider is a big step. However, it doesn’t have to be as scary as many people think.

Refinancing starts just like it does for new and first home buyers with a new mortgage pre-approval. Just like a new home buyer, you can then see what kind of deal you stand to qualify for if you do decide to refinance. That then is where I come in. You see, unlike your bank and other potential lenders I’ll check your credit score against just a single credit bureau. I’ll then use your score to source you the best potential new deals offered by over 42 lenders in the Canadian mortgage market place. Moreover, just like with new home buyers, there is absolutely no obligation involved in seeking a pre-approval.

In fact, people deterred from refinancing because of possible penalties, potentially miss out on savings which they could make in the long term through lower interest rates. If for example, your present mortgage interest rate is 0.5% higher than the current Canadian interest rate, it really may be worth your while refinancing as there may be hundreds, if not thousands, of dollars in interest repayments that you could end up saving.

Refinancing To Gain Access To Equity

Do you have outstanding credit cards and other loans that you are struggling to service? Depending on the amount of equity you have in your home, it might be worth your while considering refinancing your mortgage in order to consolidate high interest debts such as car loans, credit cards and and other lines of credit. Of course, people don’t refinance their mortgage in order to gain access to equity solely for debt relief purposes. Maybe you want to renovate, you might even want to release some of the equity in your current home because you are thinking of purchasing a second property. However, whatever the reason it is important to have the right mortgage agent on your side.

Pitfalls To Look Out For When Refinancing

Did you know that some lenders actually attempt to lure people into refinancing with what the industry terms “no-frills” mortgages? Lured by the promise of lower interest rates, people often don’t realize that by taking on such deals they then stand to lose out on repayment privileges and incur crippling early cancellation fees. Remember by having prepayment privileges, you can pay off your mortgage years faster! No Frills mortgages don’t allow for prepayment privileges of any kind.

As a mortgage professional dedicated to securing my clients’ mortgage solutions which best fit their specific needs, I therefore help people like you avoid such pitfalls, whilst still securing the kind of mortgage most suited to your specific situation.

Thinking about refinancing?

Message me or give me a no obligation call and let’s start talking about what kind of solution might be right for you. I’m Amina, I’m a professional mortgage  agent and I’ve always got your best interests in mind.

 

Testimonial

When we approached Amina for her assistance, we had been having trouble securing a mortgage through other brokers and banks.

Amina took over and worked tirelessly to secure a mortgage for us. She kept us up to date through regular emails and phone calls and worked many possible options to get the best solution for us. If you’re looking for the best possible mortgage be sure to contact Amina’s Mortgage Services.

T. Garner
Newmarket, ONTARIO