Have a large project but only a small budget?
Mortgage refinancing is the solution
Unfortunately, we aren’t usually rewarded financially for all the great ideas floating around in our heads, but don’t let that lack of cash flow stop you. You will be happy to know that your house has most likely increased in value since it was purchased.
This gain in equity can help you:
- Travel and see the world
- Buy a car, a motor home, a boat, or even a motorcycle
- Pay for your children’s education
- Start a business or any other project that your heart desires
- Take a sabbatical or retire early
By refinancing your mortgage, your home equity can be used to secure a more advantageous interest rate, thus helping to finance your projects.
Did you know that:
- You can benefit from your increased home value when refinancing by borrowing up to 80% of your property’s market value minus your mortgage balance.
- For a 3 or 4 unit building, you can borrow up to 80% of the property’s net value and for multi-unit buildings (5 units and up)
You can use the sum resulting from the increased equity to realize these projects.
Feel free to contact us to understand the various options available to help you take advantage of life.