Benefits of Mortgage Refinancing in city
Services include Home Mortgage Loans, Bad Credit Mortgages, Refinancing Mortgages, Mortgages for 1st Time Home Buyers
Are you looking to refinance your mortgage and live in city? Our mortgage brokerage can connect you to a network of over 100 Ontario mortgage lenders all competing to refinance your mortgage at lowest possible rate.
If the bank said no or you have bad or poor credit we can still help you refinance the mortgage on your city home.
If you have horrible credit, bankruptcy, mortgage arrears, property taxes owing, power of sale, self employed or on pension or disability…
We can still Help!
Contact us today toll-free at 1-888-934-1118 to speak with your local mortgage professional servicing the city area.
We also specialize in providing the following mortgage solutions in city
Second Mortgages, Debt Consolidation, Mortgage Refinancing, First Mortgages, Commercial Mortgages, Residential Mortgages, Home Equity Lines of Credit, Commercial Loans, Bad Credit Loans, Mortgage and Tax Arrears.
Refinancing may refer to the replacement of an existing debt obligation with another debt obligation under different terms. The terms and conditions of refinancing may vary widely by country, province, or state, based on several economic factors such as, inherent risk, projected risk, political stability of a nation, currency stability, banking regulations, borrower’s credit worthiness, and credit rating of a nation. In many industrialized nations, a common form of refinancing is for a place of primary residency mortgage.
If the replacement of debt occurs under financial distress, refinancing might be referred to as debt restructuring.
A loan (debt) might be refinanced for various reasons:
- To take advantage of a better interest rate (a reduced monthly payment or a reduced term)
- To consolidate other debt(s) into one loan (a potentially longer/shorter term contingent on interest rate differential and fees)
- To reduce the monthly repayment amount (often for a longer term, contingent on interest rate differential and fees)
- To reduce or alter risk (e.g. switching from a variable-rate to a fixed-rate loan)
- To free up cash (often for a longer term, contingent on interest rate differential and fees)
Refinancing for reasons 2, 3, and 5 are usually undertaken by borrowers who are in financial difficulty in order to reduce their monthly repayment obligations, with the penalty that they will take longer to pay off their debt.
In the context of personal (as opposed to corporate) finance, refinancing multiple debts makes management of the debt easier. If high-interest debt, such as credit card debt, is consolidated into the home mortgage, the borrower is able to pay off the remaining debt at mortgage rates over a longer period.
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