Maybe you’re thinking of landscaping your yard, an addition above the garage, or maybe you want to rip out those old cabinets and renovated your kitchen! Why not join other Canadians who have taken advantage of lower mortgage rates by tapping into their home equity?
Before you refinance your home, you should start with knowing where the market stands as far as the constant fluctuation of interest rates. Getting a lower interest rate should be the prime concern for anyone buying or refinancing a home. If you are eligible to refinance than you could cut down your monthly mortgage payment significantly! You will also be allowed to take out equity on your home from money that you have put into it and use this towards home improvements or use them to pay off other debts. However, the most important aspect of refinancing your home is the deduction of interest from your income taxes.
While you are thinking about refinancing, contact Your Mortgage Now to find out the current best interest rates. Next, decide what type of mortgage you would like to obtain, and we can help you decide wether you want an adjustable or fixed-rate mortgage.
We can then help you to determine whether or not refinancing is going to help lower your current mortgage. With our online calculating system, we are able to help you determine if this is the right time for you to refinance or not.
Once we have weighed out your options and are aware of the benefits, you will be able to make an educated decision. Devin & Wes will do all the work for you figuring out these factors, we find many are surprised what they are capable of!