1. Lower Fixed Rate Mortgage: This one is really a "No Brainer". If your mortgage is coming due for a renewal - don't be foolish and just take what the bank offers you - instead, call us for a quick review - we'll show you your potential savings and/or loss. The cost of the call is less than Free...so don't wait too long, you might miss the boat.
2. Lower Adjustable Rate Mortgage: This one is also a "No Brainer"...but with rates hovering 2.10% and 2.15% for 5 year Adjustable Rates - you'd be crazy NOT to take advantage of them. The good news is you can always convert back to a Fixed Rate Mortgage if you feel the need to...and that conversion cost's nothing if you decide to pull the trigger.
3. Equity Take Out: You may not have a mortgage on your home...so calling this a Refinance isn't quite accurate - it's actually called an Equity Take Out. In Canada you can usually access 80% of your home's value this way - be careful though...some lenders and insurers will cap this at $200k due to money laundering laws. The proceeds from the ETO, as we like to call it, can be used for anything you like...may we suggest you INVEST?
4. Debt Consolidation: We've been fortunate in Canada to have experienced low unemployment and strong financial growth. So much so that we've gone from being the Savvy Canadian who uses "Please and Thank You" and Saves their money to being the Savvy Canadian who still uses "Please and Thank You" but is now SPENDING TOO MUCH MONEY. You know who you are...We're looking at you Saskatchewan and Alberta! Refinance today and get your debts back in order - put a plan together to get back to saving...or at the very least to improve your cashflow so you are not living pay cheque to pay cheque.
5. 2nd Home: Stop putting off the dream to own the small cottage at the lake - with the available equity in your home - you could refinance and use the funds to purchase that little piece of heaven by the water. And hey, if you would rather buy a Rental Property or a place for the kids while they attend University - you can do that as well - it's all good.
6. 1st Mortgage and 2nd Mortgage Consolidation: This shoe only fits a few people - but to those that are carrying 1st and 2nd mortgages on their homes...they know how difficult it can be to cover to sets of mortgage payments. It's time to get rid of that 2nd Mortgage - it's only costing you more money than it should. With lending laws in place to maximize refinances at 80% LTV regardless of the lender - it only makes sense to bulk them in together and make it 1 manageable payment instead of 2.
7. Life Happens: This is never the easiest topic to cover...but let's face it, Life Happens. Your marriage could be on the rocks, you may have experienced a death in the family, maybe your spouse lost your life savings at the Casino - WHO KNOWS? There are plenty of life events that require people to access their home equity in order to get through it. It's never pleasant using home equity for these scenarios - so we'll do our best to take the sting out of it to make sure you maximize the benefit to meet your unique situation.
8. Renovation and Upgrades: House was built in 1978 and still looks like it? Consider your opportunity to take some of your equity and put it towards some needed upgrades. Maybe a fresh coat of paint...perhaps some newer cabinets and counter tops - maybe you need new windows/doors/shingles, etc - hell, you may even need a Furnace and/or Air Conditioner - and that can run a person a cool $10k!
There are other reasons you may want to refinance - whatever they are - take comfort knowing you'll get access to the lowest rates available, personalized service - and...Our Service Costs You NOTHING! NADA! ZIP!
Remember - our lending partners pay us directly for doing the "heavy lifting" for them. There is no need for a broker to charge a client...and if you do know a broker who's charging clients...then THEY SUCK at their job.
Oh...and Happy St. Patrick's Day...Ladies.