Use the money in your Scarborough, North York, GTA or anywhere in Ontario home to pay off high interest debts and get yourself mortgage-free quicker!
Refinancing your GTA or Ontario home has many benefits and can typically be used for the following needs.
- Accessing a Lower Interest Rate.
With access to a large number of mortgage lenders from across Canada I can typically get you a much better rate than the big banks.
- Consolidate Your Debt.
There are many different types of debt from credit cards, lines of credit, university and college loans as well as mortgages. That said, most types of consumer debt have much higher interest rates than those you would pay on a mortgage? Refinancing can free up cash to help you pay out these debts.
- Accessing Your Home Equity.
One of the biggest reasons to buy in the first place is to build up equity in your GTA home. Consider your home equity as the difference between your property’s market value and the balance of your mortgage. If you need funds, you can refinance your mortgage to access up to 80% of your home’s appraised value.
- Modify Your Mortgage.
Sometimes you need to pay off your mortgage faster or change the type of mortgage you have (variable vs fixed). Maybe you came into some extra money and want to put it towards your mortgage or maybe you are weary of the market and want to lock in at a fixed-rate for security. We can help.