{"id":1399,"date":"2020-12-01T18:28:43","date_gmt":"2020-12-01T18:28:43","guid":{"rendered":"https:\/\/myprivatelender.com\/?p=1399"},"modified":"2023-07-06T05:34:13","modified_gmt":"2023-07-06T05:34:13","slug":"mortgage-refinance","status":"publish","type":"post","link":"https:\/\/myprivatelender.com\/2020\/12\/01\/mortgage-refinance\/","title":{"rendered":"Advantages of refinancing your mortgage are plenty!"},"content":{"rendered":"

Should I Refinance My Mortgage?<\/strong><\/h2>\n

I think we can safely say that 2020 has been a strange year. A year of lockdowns due to a pandemic, financial support from the government, and the lowest interest rates in recent history.\u00a0 This has led to a rise in the number of homeowners who are considering refinancing their mortgage.\u00a0 According to a recent poll, approximately 20% of Canadian homeowners say they plan to refinance their mortgage in the next 12 months.<\/p>\n

Welcome to My Free Mortgage and Loan Advisory!<\/strong><\/a><\/p>\n

\"\"<\/p>\n

Like all financial decisions, it\u2019s important<\/p>\n

to look at the bigger picture, which includes reviewing your goals.<\/p>\n

FREE mortgage advice<\/a><\/strong><\/p>\n

Definition of refinance!<\/strong><\/p>\n

A refinance means, you gat a mortgage from a new lender, bank or others for a better deal, lower rate, better product, more flexible lending criteria and so on \u2013 it is essentially a new mortgage.\u00a0 There can be many reasons to refinance, but my most favorite one of them all, YOU SAVE A LOT! Do it yourself is not the best choice!<\/p>\n

Here are a few reasons to opt for a refinance:<\/strong><\/h3>\n
    \n
  1. Decrease your overall monthly debt payments by using the equity in your home to pay off those high-interest credit cards or unsecured loans.<\/li>\n
  2. Lower monthly mortgage payments. A borrower may be able to lower their monthly payments by either securing a lower mortgage rate or by extending their loan term, which would spread their payments out over a longer time period. This can be important for those with a tight monthly budget and who are looking for additional financial breathing room.<\/li>\n
  3. You can refinance to purchase another property. Using the existing equity in your home can be a great way to buy a rental property which, if done right, can also make the interest you pay tax deductible.<\/li>\n
  4. You could also take out some of the equity for investment purposes — an option that many homeowners consider this time of year as they look ahead to the new year<\/li>\n
  5. And there are more uses for your equity such as helping putting your kids through school.<\/li>\n
  6. You can also finance a renovation or home improvements.<\/li>\n<\/ol>\n

    Repayment \u2013 What You Need To Know!<\/strong><\/p>\n

    Borrowing against your property is not free money \u2013 it\u2019s a mortgage loan — and like any other loan, it has to be repaid.\u00a0However, do not forget, this is the lowest rate loan you will ever get from a bank<\/p>\n

    Speak to a Professional to Understand!<\/strong><\/a><\/p>\n

    There are many factors to consider before deciding to refinance. Each individual\u2019s financial situation is different. Let\u2019s talk about your unique situation and the options available to you.<\/p>\n

    Know your mortgage! More you know, better the decision you will make! We are here to answer all of your questions and address all of your concerns! Just a call away to talk to one of our seasoned experienced mortgage professional at 403-253-2022 <\/strong>or simply request a Free Mortgage Advice session here!<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

    Should I Refinance My Mortgage? …<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[8,7],"tags":[10,28,13,25,26,27,29,30,24],"yoast_head":"\nAdvantages of refinancing your mortgage are plenty! - Private Lender Inc.<\/title>\n<meta name=\"description\" content=\"Refinance your mortgage makes sense when you need money, lower rate to save on interes, get funds to open a business or whatever you need money for. 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