Refinance

When does it make sense to refinance your mortgage?  Every one has different motivations as to why they would want to refinance.  Maybe you want a better rate, or maybe you need cash out to do some renovations.  Perhaps the kids need braces, or you just want to go on that dream vacation.  Whatever the reason is, if you own a home you have options.

One of the biggest reasons we see clients refinance, is to consolidate their debt.  If we look at the difference between credit card interest rates, and mortgage interest rates; it doesn’t take much consideration…you’d want to consolidate your debt into the lower interest rate, creating a lower monthly payment each month for your household.  This can potentially create a MUCH more comfortable financial wellbeing.  But there is more to consider than just the two different interest rates that are being offered.  You have to ask yourself, “If I break my current mortgage, will I have to pay a higher interest rate?”  The answer to that may be yes, or it may be no.  If you have accumulated enough debt via other means (Credit cards, Auto Loans, etc.), on TOP of your original mortgage payment, we will look at it from a monthly payment perspective.  All angles are worth looking at when you are stuck in debt overload!  If there’s a reasonable answer, we’ll find it!  And remember this – you don’t necessarily have to break your mortgage to find the right answer.

The first step to refinancing is asking yourself “why” you want to refinance your mortgage.  The next step is to speak to us about your options that you have.  There are many, many different mortgage products on the market, and what works for one individual, may not work for the other.  So contact us today to find your best mortgage option…chances are it’s out there!

A friendly voice, knowledgeable advice - a move in the RIGHT direction!