Heard of mortgage refinancing, but not sure what it is or if it would be a good choice for you? Refinancing a mortgage means that you would be paying off an existing loan and replacing it with a new one.

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!