Do you have 20% or more equity in your home?
Are you thinking of unlocking that equity to do any of the following:
- Reduce and simplify monthly obligations by paying off higher interest debts such as credit cards, unsecured lines of credit, vehicle loans or other high interest loans.
- Lower your monthly mortgage payment by extending the amortization and freeing up monthly cashflow.
- Use existing equity for higher yielding investments.
- Use existing equity to renovate your home and increase its value.
- Use existing equity for the down payment of another home or investment property.
These are just some of the many reasons home owners may decide to refinance their property. No matter the motivation borrowing against your property can be an excellent method of obtain affordable borrowing. Refinancing your mortgage has the benefit of being secured against real property, therefore allowing lenders to offer much lower interest rates than other means of borrowing.
If you are a homeowner that would like more information on refinancing your existing home please give us a call. We are happy to analyze your situation, determine your potential savings and provide options tailored to your needs.