Refinance your mortgage to access home equity
Our mortgage refinance program allows you to consolidate all your debts (mortgage included) into a single mortgage that is worth up to 80% of the value of your property. The most important factor we consider is the Loan-to-Value ratio, which measure what percent of your home equity belongs to you. Our mortgage refinance program will cause you to break some prior contracts and include penalty fees for those contracts. Penalty fees are based on interest owed, a typical penalty is three months of interest. Depending on your situation, a second mortgage may be a more attractive option.
Our refinancing program lets you combine all of your smaller debts, credit card, student loans, etc, into a single low interest mortgage. We turn your debts in to a single debt which is secured against your home. The money can be used for any purpose you deem fit, including education, investment, or home renos.
Many Canadians opt to consolidate their current mortgage and other debts into a single mortgage. This allows people to pay a reduced monthly payment, thus saving you money. This also helps organize your payments, as a single payment is easier to manage than many. You can also change some of the terms of your mortgage, such as asking to extend the payback period.
As mortgages are backed by the equity in your home, you can acquire a lower interest rate, which is something our lenders can provide due to the low risk nature of mortgages.
Our lenders understand that lowering your monthly payments and organizing everything into a single simple payment make borrowers very likely to pay back their debts.