Let's see if we can save you some money.
Refinancing is when you break your current mortgage term and get an entirely new mortgage. It means a chance to get an entirely different mortgage, and it's an incredibly powerful tool in the personal finance toolbox. A couple reasons people get refinances instead of simply renewing their mortgage:
- Take advantage of a lower rate
- Extend the amortization to reduce mortgage payments
- This can help when your mortgage comes due for renewal in a high-rate environment to keep cashflow managable
- Shorten the amortization
- If rates are low, it's a chance to pay off more mortgage quicker.
- Access home equity (For investing, buying other property, renovations or other work around the house)
- Consolidate loans or debts that are at higher interest rates than mortgages.
How can this help me?
If you went to school in BC or Alberta, there's a very solid chance nobody taught you anything about personal finance cashflow and interest optimization. No worries, that's why we're here. When you work with a Tekamar broker, we'll go through your entire personal finance picture, and work out a plan to keep more money in your pocket each month. We'll do that by figuring out what makes sense to consolidate, and work with you to make a plan that puts you further ahead.
The ability to refinance your home is an incredibly underutilized tool when it comes to managing money. From lowering interest costs, to accessing relatively low-cost debts allowing you to invest elsewhere, the ability to access and manage the equity in your home or properties shouldn't be ignored. We specialize in exactly this and would love a chance to chat with you and see if it can help you as well.