The benefits of refinancing your mortgage:
- to lower your interest rate / lower your monthly payment
- to access home equity to serve as collateral for a home equity loan or line of credit
- to withdraw equity for renovation purposes or to consolidate debt
It is a strategic financial decision, and because everyone’s situation is different, it requires consulting with a mortgage expert to ensure that you get the best deal. If you are going to refinance, most importantly, you also want to ensure you are going to be in a better position than if you didn’t take this route.
Learn more here: refinancing a mortgage.
Contact our mortgage brokers in Vancouver for more information and to get the best mortgage rates in the city!