Canadians today face many reasons to refinance their mortgage.
Canadians today have many reasons to refinance their current mortgage. For example, you may have been working at improving your credit score and now qualify for a new mortgage with a better rate. Refinancing is also a good option to gain access to cash from your home equity to consolidate higher interest debt, make home improvements or help pay for a child’s university education.
Federally regulated guidelines allow home owners to refinance their homes for up to 80% of its current value. However, in cases of marital breakup it can be possible to refinance for up to 95% in order for one spouse to payout the other their share of the home equity.
The following YouTube video goes over mortgage refinancing in detail.
Please contact me when you are ready to take advantage of your home equity to help you get ahead.