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Freeway Mortgage

WHY REFINANCE YOUR MORTGAGE

Need money for your home renovation project? Want to consolidate debt? Wish to take advantage of lower rates? There are plenty of reasons to consider refinancing and plenty of ways we can help. Refinancing your mortgage with can save you money, here is how:

Refinance Home Mortgage

  • lower mortgage rates than those advertised by the big five banks.
  • great rates up front - no haggling required.
  • flexible payment options to help you become mortgage-free faster.

Use the equity in your home

The equity in your home can be a source of additional funds to help meet your borrowing needs. Refinancing your home can be an option when it comes to paying for a major home renovation project, make a down payment for an investment property or cover the costs of your child‘s post-secondary education.

Consolidate debt

If you have debt at an interest rate higher than your mortgage rate, then refinancing can save you money. Use the extra cash to pay off your debt, resulting in all of your debt being charged at one low rate.

To pay off your mortgage faster

First-time buyers often opt for a long-term mortgage to keep their monthly payments low. But when you’re able to handle a higher monthly payment, it makes sense to shorten the amortization by refinancing. While your monthly payment will go up, your interest cost over the term of the mortgage will probably drop. You also build equity in your home faster. And ultimately, you’ll be mortgage-free sooner. See the effect of reducing your amortization.

Lower your monthly mortgage payments

Taking advantage of lower interest rates to cut your monthly payments is a good reason to refinance. Even though you may need to pay refinancing fees and penalties, you could still lower your monthly payment by a few hundred dollars. Then you’re free to use the extra cash for a major purchase, an RRSP contribution or an investment.

Take advantage of a lower interest rate environment

You also have the option to blend your original mortgage interest rate with today’s rate and extend your mortgage term. If today’s interest rates are lower than when you first took out your mortgage, a “blend & extend” can help lower your mortgage payments or allow for your mortgage to be paid down faster.

Many Canadians are applying for mortgage refinancing in order to keep on track with their financial goals.

Together we can review your current mortgage profile and help you save money. We have lenders offering the lowest mortgage rates for your mortgage refinancing.

There are other benefits to refinancing. You can take this opportunity to consolidate any high interest loans or credit cards. Another benefit of refinancing your mortgage is that you may be able to get a far better interest rate than your current one. If we cannot beat your current rate, we definitely can find a better mortgage product since we have access to over lenders across Canada.

Our professional mortgage managers would be happy to find the best possible rate or product to suit your new situation. Simply fill out our convenient mortgage refinance application and take that step closer to your dreams.