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Mortgage Re-Financing

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Home / Mortgage Re-Financing

Refinancing your existing mortgage allows you to access equity in your home for a variety of reasons including:

  • Asset enhancement
  • Debt consolidation
  • Combining first and second mortgages
  • Renovations

Mortgage refinancing can be an ideal option, especially if you are tied down with a high mortgage interest rate. Mortgage refinancing is the new loan that pays the existing mortgage and sets-up a completely new mortgage(s). The best part of refinancing is that borrowers can have a lower interest rate to be negotiated as well.

Why Refinancing Is A Better Option Than A Traditional Loan?

Mortgage Refinancing Calculator

There are several reasons why you should consider refinancing over a traditional loan. You can use it as a debt consolidation loan, due to lower interest rates. It is considered that mortgage refinancing is more cost-effective than obtaining a traditional mortgage loan.

Good Credit Can Help You Get Lower Interest Rate

Better credit score means you have better chances of securing favorable mortgage option and a lower interest rate. Our mortgage refinancing calculator can help you determine the amount you will be expected to pay as principal, interest and other fees. Our mortgage agents will make sure to get you a great refinancing deal quickly.

Want to Refinance A Mortgage? We Can Help!

Mortgage refinancing is the perfect time to get a customized mortgage loan. Regardless of what mortgage option you want, our agents will walk you through the entire refinancing process, making it easy and hassle-free for you. With us, you can rest assured you will get the best mortgage refinancing deal.

Refinancing Considerations – Things to Keep in Mind

No matter why you are refinancing your mortgage, the first thing to keep in mind is that you must be the owner of the house. You are allowed to use only 80 percent of the value of your home. You may or may not need to pay an insurance premium, it solely depends on the type of mortgage loan you choose.

Before securing a mortgage refinancing deal, you are liable to pay some legal and appraisal fees as a homeowner. In some cases, these fees can be rolled into the total mortgage, but you need to pay the initial amount that will be reimbursed by your mortgage funds later.

Costs Related to Refinancing

Make sure you review your mortgage on a regular basis and keep up with the latest products and offers. There are chances that you may be missing hundreds of dollars in monthly cash flow. When you go for mortgage refinancing, you are generally faced with a prepayment cost by the financial institution. We, at GN Mortgages.ca, would be more than happy to help you calculate the prepayment amount and help you find the ways to minimize this cost.

With all the relevant information in hand, we help the mortgage shoppers make a sound decision and choose the best home mortgage refinancing option.

Call our mortgage brokers today to discuss mortgage refinancing options!
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