2908 Hwy 7 Vaughan, ON L4K 0K5, Canada
Refinancing Options
for lower payments
Refinance Your Mortgage for Better Terms and Lower Payments
Learn about Refinancing Options
Is Refinancing the Right Choice for You?
Refinancing allows homeowners to replace their current mortgage with a new one, usually with better terms. It’s a great option if you want to lower your interest rate, reduce your monthly payments, or access the equity in your home. Refinancing can also be used to shorten your loan term and pay off your mortgage faster.
How Refinancing Works.
1.
Review Your Mortgage
We’ll review your existing mortgage, interest rate, and current financial situation to determine if refinancing will benefit you.
2.
Choose the Right Option
Select from various refinancing options, such as lowering your interest rate, changing your loan term, or consolidating debt.
3.
Complete the Process
Once approved, we’ll help you finalize your new loan, and you’ll start saving with lower payments or a shorter loan term.
Get Started with Refinancing Today
Our Available Refinancing Options
We offer a variety of refinancing options designed to meet your financial goals. Whether you want to reduce your monthly payment, access home equity, or pay off your mortgage faster, we have a solution for you.
Refinance today
FAQs
What is refinancing?
Refinancing involves replacing your current mortgage with a new one, often with better terms, such as a lower interest rate or a different loan term.
Why should I refinance my mortgage?
Refinancing can save you money by lowering your interest rate, reducing your monthly payments, accessing cash for home improvements or debt consolidation, or shortening your loan term.
What are the benefits of a cash-out refinance?
A cash-out refinance allows you to tap into your home’s equity to fund expenses such as home renovations, education costs, or debt repayment while still maintaining a single mortgage.
How do I know if refinancing is right for me?
Refinancing is ideal if you’re looking to lower your interest rate, reduce your monthly payments, shorten your loan term, or access home equity. It’s important to review your financial situation and loan terms with an expert.
How long does the refinancing process take?
The refinancing process typically takes 30-45 days, depending on factors such as your lender, loan type, and paperwork requirements.
What are the costs of refinancing?
Refinancing costs can include application fees, appraisal fees, title insurance, and closing costs. Be sure to review all costs with your lender before moving forward.
Will refinancing affect my credit score?
Refinancing can have a small, temporary impact on your credit score, as it involves a credit inquiry. However, refinancing to a lower interest rate and making timely payments can improve your score over time.
What documents do I need to refinance?
Common documents include proof of income, tax returns, credit report, property tax information, and details about your current mortgage. Your lender will provide a specific list of required documents.
Can I refinance if I have bad credit?
Refinancing with bad credit can be more challenging, but it’s still possible. You may have to pay a higher interest rate, or you could consider government programs designed to help homeowners with less-than-perfect credit.