Mortgage Refinancing and Debt Consolidation
There may come a time in life when you need extra funds. It could be for a child’s tuition, or home renovations. You may need cash for an investment opportunity, to purchase a vehicle, or even for the down payment on a second property. And sometimes the savings account just doesn’t cut it. Mortgage refinancing can be a good solution, and Best Mortgage Loans can help.
As you pay down the mortgage and as the value of your property increases the difference between the two is known as equity. Refinancing allows you (the borrower) to access the existing equity in your home and withdraw a lump sum which would then be added to your mortgage amount.
Mortgage refinancing can also be used as a debt management tool. If high interest debt is starting to or has become unmanageable, you may want to consider refinancing. You would then be able to consolidate the credit cards, personal loans, etc. into the mortgage at a much lower interest rate.
Depending on the amount of equity available to you, refinancing can be a great solution.
Contact Best Mortgage Loans for Mortgage Refinancing in Hamilton
At Best Mortgage Loans, we have relationships with all of the major lenders in Hamilton. We know then where to go to get the best mortgage rates for every situation. We will advocate for you to get the best rate possible, and give you trusted advice.
VERICO Best Mortgage Loans
949 Garth St
Hamilton, ON L9C 4L3