Mortgage Refinance and Debt Consolidation

Mortgage Refinance and Debt Consolidation 2018-01-29T10:58:09+00:00

Mortgage Refinance and Debt Consolidation

Our team will refinance your mortgage at today’s best mortgage rates in Canada!

The equity in your home can be used in many ways to enhance your standard of living. At a time of historically low interest rates, it makes sense to take advantage of this opportunity. You must own a home and you must have equity in your home to qualify. You can refinance up to a maximum 80% of the value of your home. For example, if your home is worth $400,000 today, you could refinance up to a maximum mortgage of $320,000.

Top 5 Reasons to Refinance Your Mortgage

Lower Your Interest Rate
and Payments

Today’s record low interest rates provide a great opportunity to home owners to lock in a new mortgage rate for a new term. This will provide you with long term security, a lower mortgage payment, and save you thousands in interest over the life of your mortgage!

Consolidate High Interest
Rate Debts

Consolidate debts such as credit cards, loans, or lines of credit. If your monthly bills have gotten out of control, you might be able to refinance your home and pay them off. The advantage of doing this is to lower your total monthly payments and interest costs.

Finance Your Home
Renovation Project

If you have already or plan to renovate your home, you will realize this can be a costly endeavour. Whether you are developing your basement or renovating your kitchen, the costs can add up and the most cost effective solution is adding this to your mortgage.

Purchase an Investment Property

Mortgage rules now require a minimum 20% down payment to purchase investment properties. If you don’t have the funds available in liquid cash, refinancing your existing property to access your current equity is a great way to get started.

Purchase a Second
Family Home

If you are looking to buy a vacation home, using the equity in your home may be the easiest and most cost effective solution. Using your home equity to buy property in other countries such as the United States or Mexico is easier than acquiring foreign financing.

Lowest Mortgage Refinance Rates in Canada

We guarantee to get you the lowest mortgage rate from over 40 lenders across Canada!

***Rates are subject to change at anytime and restrictions may apply. Contact a mortgage broker for the most up-to-date rates.***

Get a Mortgage Refinance Pre-Approval in 5 Minutes!

Click Apply Now below to open a secure online mortgage application to safely and securely submit an application for your mortgage pre-approval. Our mortgage refinance team will review your information and contact you to complete your official mortgage pre-approval!

Debt Consolidation Scenario

We have helped many clients leverage the equity in their home to consolidate debt and lower their overall payments. The following example was the case for one of our recent clients. It clearly shows the money they were able to save each month.

Before Debt ConsolidationAfter Debt Consolidation
Existing MortgageNew Mortgage
Property Value$400,000Property Value$400,000
Mortgage Balance$250,000Mortgage Balance$280,000
Interest Rate3.89%Interest Rate2.45%
Mortgage Payment$1,300/monthMortgage Payment$1,247/month
Monthly Debt PaymentsMonthly Debt Payments
Credit Cards $10,000 @ 19.9%$265/monthCredit Cards $0 @ 19.9%$0/month
Car Loan $20,000 @ 6.5%$391/monthCar Loan $0 @ 6.5%$0/month
Total Payments$1,956/monthTotal Payments$1,247/month

We were able to refinance their current mortgage to pay off two outstanding debts and significantly lower their total monthly payments. They saved a total of $709 per month and have been able to use this money for many other needs. Their mortgage rate was lowered and their amortization stayed the same so they will be debt free in the same amount of time, but paying significantly less interest!

Will Refinancing Work For You?

Their is no cost or obligation to inquire about a mortgage refinance. Our team is here to run the numbers for you to determine if refinancing your mortgage makes financial sense for you and your family. Simply complete the mortgage refinance inquiry form on this page, the pre-approval application, or contact our team and we will do the rest!

Mortgage Refinance Inquiry

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Financial Details

Complete the Online Application or Contact Our Team to Discuss Your Mortgage Refinancing Needs